U.S. private equity group Carlyle said assets at its commodities hedge fund Vermillion fell by more than half in the nine months to December, suggesting investor redemptions at the fund after some negative returns.
New York-based Vermillion Asset Management was managing about $2 billion in March 2013 but that fell to around $900 million by December, Carlyle said in regulatory filings to the U.S. Securities Exchange and Commission.
It brings to mind Carlyle's hedge fund Blue Wave Partners, which suffered similar redemptions which caused the fund to be rolled up. Rest assured these do not count against Carlyle's 30% annual return on equity.
