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Quellos holding onto existing clients; Numbers look good, but tax-shelter problem may be deterring new institutional business.

Publication: Pensions & Investments
Publication Date: 28-MAY-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Quellos holding onto existing clients; Numbers look good, but tax-shelter problem may be deterring new institutional business.(Quellos Group L.L.C. management of hedge funds)

Article Excerpt
Byline: Christine Williamson

SEATTLE - Quellos Group LLC has a skeleton rattling around rather loudly in its closet that isn't scary enough to make existing clients to drop the firm, but might be deterring new business.

Quellos - one of the world's largest hedge fund-of-funds managers, with $20 billion in assets under management - hasn't suffered mass terminations, but sources said it hasn't been attracting much new institutional business.

"The publicity that Quellos is attracting is coming at a time when most of the money going into hedge fund of funds is coming from public plans. On a checklist of the things that knock out a potential manager, this kind of thing is something they can't get beyond,'' said Stephen Nesbitt, chief executive officer of alternatives consultant Cliffwater LLC, Marina Del Rey, Calif.

Tax shelters

Michael Gross,...

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