Demise of Fund of Funds Continues

Another fund of hedge funds firm is shutting down. The 1794 Commodore Funds is winding down its three funds over the next six months. Founded in 2002, the firm is a joint venture between York Capital Management, a multibillion dollar event-driven hedge fund manager, and William A.M. Burden & Co., the family office for the Vanderbilt estate. 1794 refers to the year Cornelius Vanderbilt was born, while Commodore was the nickname for the steamship magnate.