Weiss Multi-Strategy Hedge Fund Files Bankruptcy After Shutdown

Weiss Multi-Strategy Advisers LLC filed for bankruptcy about two months after the New York-based investment management firm announced it was winding down operations.

The firm has between $10 million and $50 million in assets but owes creditors as much as $500 million, according to its Chapter 11 petition, filed in federal court in Manhattan.

George Weiss founded the firm in 1978 and it managed $3.1 billion as of mid-2023, according to With Intelligence. The company chose to file bankruptcy after examining all of its short and long-term options, Weiss said in the bankruptcy filing.

In early March he told clients ...