|Headquarters||New York City, U.S.|
|AUM||$6.4 billion (2013)|
Caxton Associates is a global macro hedge fund founded by Bruce Kovner in 1983 headquartered in New York City. The firm also has offices in London, Sydney, and Princeton, New Jersey. As a global macro hedge fund Caxton Associates identifies investments according to their research of global markets and analysis worldwide economic trends.
In 1992, Caxton closed its fund to new investors.
It was reported that at the end of the 1990s Caxton Global Investments volatility fell substantially along with the funds returns.
In 2003 concern at Caxton Associates around the potential future impact on their historical rate of return due to their fund's size resulted in 20 percent of investors' capital being returned. Assets under management post 20% were $9.5 billion.
On December 21, 2007, Caxton-Iseman Capital, a joint investment partnership Caxton Associates and Frederick Iseman announced that it had completed its spin-off from Caxton Associates. Caxton-Iseman Capital will change its name to CI Capital Partners LLC.
2008 Financial Crisis
During the 2008 financial crisis Caxton Associates did not erect gates freezing investor capital in their Caxton Global Investments fund. As reported the fund saw client redemptions totalling 27% of assets under management through 2008–2009—while returning 13% for the year. The redemptions were reportedly born out of cash strapped clients many of whose asset allocations were gated and frozen at other investment management companies: two years later the firm had fallen from No. 16 to No. 51.
In 2010 it was reported that since 1983 Caxton Associates had returned $12.8 billion to clients whilst managing $6 billion; ranking second amongst managers who have returned more than they currently manage.
Caxton Associates is a global macro hedge fund, which its founder Bruce Kovner uses as his personal investment vehicle. The firm is controlled by its majority shareholder, Caxton Corporation, of which Kovner is the sole shareholder.
The firm's flagship fund was reported in August 2011 to account for $7 billion of Caxton Associates assets under management.
Institutional Investor's Hedge Fund 100
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