Invest After A Drawdown: Glenview Creates New Hedge Fund, Zero Fees

Larry Robbins, founder of Glenview Capital Management, has had a “exceedingly disappointing” and “frustrating” 90 days, he told investors in a letter dated October 26 reviewed by ValueWalk. Not only did he lose his own money, but investors took a haircut. To rectify the situation, the fund manager is offering existing investors an opportunity to invest in the hedge fund on a drawdown – and do so on favorable terms. To accomplish this, a new healthcare focused hedge fund is being created that includes exposure to liquid assets that will operate without fees being charged. Unlike some other fund managers…