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Dinakar Singh's TPG-Axon is suffering through its third losing year, making Singh the latest in a string of Goldman exes to run into trouble with their hedge funds.
Dinakar Singh, TPG-Axon (Bloomberg)
Dinakar Singh is the latest example of a one-time Goldman Sachs honcho to have stumbled as a hedge fund manager.
Singh, who co-founded TPG-Axon Capital Management in 2005 with private equity firm Texas Pacific Group was managing as much as $13 billion at the end of 2007, having nearly doubled his firm's assets from the previous year, when it was running $7.2 billion. Today, assets are down to $1.6 billion. A major reason: TPG-Axon is well on its way to posting its third-straight losing year.
As of the end of September, its long-short hedge fund, TPG-Axon Partners, had fallen 22.60 percent, making it one of the worst-performing hedge funds in 2016. It was down more than 24 percent through August. The fund declined by 3.1 percent last year and lost 5.7 percent in 2014.
Singh previously...