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Stamford Hedge Fund Loses $40 Million In A Month

John Bailey
John Bailey Photo Credit: Cindy Capitani

STAMFORD, Conn. -- Spruce Alpha, a small, Stamford, Conn. hedge fund that’s part of a larger investment group, lost almost $40 million in a month, reports.

The $80 million fund lost 48 percent in the month of August, making it the worst performer by far during a month that saw steep losses, according to .

Spruce Alpha is part of $1.8 billion fund Spruce Investment Advisors founded in 2001 by Darien resident John Bailey, says .

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