Closure of Reminiscent Capital: Joint statement by Pinnacle Investment Management and Reminiscent Capital

Following a detailed assessment of the future of Reminiscent Capital, Pinnacle Investment Management Group (Pinnacle), in conjunction with David Adams, the Founder and Chief Investment Officer of Reminiscent Capital, has resolved to close the investment boutique.

Reminiscent Capital’s Asia Macro Master Strategy was initiated in 2019, with a Cayman Fund launched in 2020. Subsequent to launching the strategy, an unfavourable environment for the asset class, together with the travel restrictions associated with the COVID-19 pandemic, has presented unique challenges for the strategy and hampered the capital raising efforts necessary to bring the Fund to scale.

Mr Adams and the Pinnacle executive management team believe the closure of the Firm is the most appropriate course of action and is in the best interests of all stakeholders, including investors of Reminiscent Capital’s managed funds.

Mr Adams commented:

“I thank Pinnacle Investment Management and Reminiscent Capital’s clients for their ongoing support. Since leaving my role as a Hong Kong-based Portfolio Manager for Brevan Howard, never has there been a more challenging environment for Asia Macro hedge funds. The Fund navigated through October 2021, one of the worst months on record for macro, but I personally feel this environment may persist for a number of years to come.”

Ian Macoun, Managing Director, Pinnacle Investment Management, commented:

“On behalf of the Pinnacle Group, I would like to wish David Adams well in the next chapter of his already very accomplished career. David worked incredibly hard to make Reminiscent Capital a success. However, the environment for this asset class remains uncertain and we believe unfavourable headwinds for the business are likely to continue into the foreseeable future.”

-ENDS-

Further enquiries:
Jarrad Brevi
jarrad.brevi@pinnacleinvestment.com