Greenlight hangs on to investors after rough year

• Greenlight Capital's main fund lost 20.4% last year, bringing AUM down $3.2B. Most of the asset loss was due to the fund decline, however, as investors pulled just $600M, according to a Bloomberg estimate.
• The stickiness of investors means David Einhorn's fund will avoid the fate of a number of other hedge funds forced to close their doors after a mass exodus of money. Among Greenlight's advantages are its large number of investors (800), its impressive track record (annual average returns of 16.5% since 1996), and contracts which lock up a sizable portion of assets.
• The fund also has captive money from Greenlight Re (NASDAQ:GLRE), managing the reinsurer's $1.1B investment portfolio.