A Multialternative Fund Pair Shuts Down
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Monday, April 25, 2016

A Multialternative Fund Pair Shuts Down

An alternative shop outside Seattle is preparing to shut down its two multialternative mutual funds.

Peter Lupoff
Tiburon Capital Management
Portfolio Manager
The one-star, $4.3-million Granite Harbor Alternative Fund and one-star, $4.1-million Granite Harbor Tactical Fund closed to new investments on April 21 and will liquidate on May 20, per a recent filing by Gemini's Northern Lights. The two funds are advised by Gig Harbor, Washington-based Genesis Capital, subadvised by Crow Point Partners, and are part of the Northern Lights Fund Trust.

MFWire could not reach Genesis managing member Norman Price, Genesis chief financial officer Mike Dubinsky, Crow Point principal Amit Chandra, or an executive with Gemini for comment for this story.

The liquidation news comes less than a month after Tiburon Capital Management stopped subadvising part of both Granite Harbor funds. Peter Lupoff, CEO and PM at Tiburon, declined to comment and referred inquiries to Granite Harbor.

The two Granite Harbor funds both launched in September 2011. In addition to Chandra, Dubinsky, and Lupoff, the PM team also includes: Ian Arvin; Charles Borquist of Genesis; Charles Chen, chief investment officer of Crow Point Investment Management; Peter DeCaprio, co-founder of Crow Point Partners; Ronald Robertson, managing member at Genesis; and Andrew Tuttle, research director at Crow Point.

Between 26 and 50 percent of Genesis' clients, and more than 75 percent of its AUM, are investment companies (i.e. mutual funds), per Genesis' most recent ADV filed on March 30. The other 51 to 75 percent of its clients and 25 percent or less of its AUM is with "pooled investment vehicles (other than investment companies)". Genesis has about $65.8 million in AUM.

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