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Arex Capital Will Convert to a Long-only Fund

Founder and ex-Greenlight partner Andrew Rechtschaffen told II that “short selling wasn’t adding value to our investment program in an obvious way.”

Andrew Rechtschaffen’s Arex Capital Management will begin converting its long-short hedge fund to a long-only fund on April 1, according to a client letter dated March 12 and obtained by Institutional Investor.The one-time Greenlight Capital partner conceded that Arex’s relatively small short program has neither provided investors with meaningful short-side

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