Carlyle-Blue Wave Partners Management, a multi-strategy hedge fund, has begun voluntarily liquidating positions and plans to shut down its operations, citing an inability to reach a critical mass of assets necessary to support the business’s infrastructure. The fund had a target of $1 billion (€642 million), but currently has just $600 million in assets under management.
Carlyle-backed hedge fund to liquidate
Just months after its Euronext-traded Carlyle Capital fund folded, the private equity firm is shutting down an affiliated hedge fund. It backed away from its previous hedge fund strategy, a fund of hedge funds, in 2003.
