Andor Capital Management, a US hedge fund managing about $2bn in assets, is to close down and return money to investors.
Daniel Benton, co-founder of Andor, is retiring from managing outside capital after 24 years in the investment business, he told investors on Wednesday in a letter seen by the Financial Times. Andor was spun off from Art Samberg’s Pequot Capital Management in 2001. He built a reputation as a leading technology investor at Pequot, following years as a star technology analyst at Goldman Sachs.
