FountainHead Capital, a New York-based hedge fund manager founded by ex-Credit Suisse First Boston derivatives proMichael Graves, has closed down one of its funds. Graves said it has closed one of its two products, but declined to detail the reasons behind its closure or say whether the decision was performance based. He also declined to detail how much the firm currently manages in assets, or the size of the fund that was closed. At its peak, FountainHead had managed several hundred million dollars in assets, said officials.
Graves quit CSFB in 2000 to found FountainHead, which was initially seeded by capital from hedge fund giant Paloma Partners, explained officials. The firm, which pursues statistical arbitrage and program trading strategies, became independent of Paloma in 2002, Graves said.
