Dan Lewis' Orange Capital Shutting Down
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Orange Capital, the activist hedge fund ran by Daniel Lewis, is shutting down given the dismal 2015. The fund lost 7.4% in 2015 through November.
This is bad news for two of the fund's top activist position, Bellatrix Exploration (BXE) and Amaya (AYA) - both down over 50% for the last year.
Since inception in 2005, Orange's main fund has managed ~10% annualized returns. Certainly, the poor 2015 wasn't Dan Lewis' only reason for shunning the fund.