The company was later shutdown due to poor performance blamed on prevailing macro-economic environment.
[1] Deephaven Capital Management was established in 1994 with $5 million in assets by Irvin Kessler.
[1] At its peak, the company managed $4 billion in assets in six different hedge funds.
[2] The SEC investigated Deephaven Capital in 2006, accusing one of its portfolio managers of insider trading involving 19 of its Private investment in public equity (PIPE) offerings.
[5] In late 2008, Deephaven froze its Global Multi-Strategy Fund with assets of $1.6 billion.