RMF-seeded Korean hedge fund shuts down

Rhee Capital, a Korea-focused equity long/short hedge fund launched in April 2003, has closed its operations and returned money to investors at the end of March 2005. The fund's founder and portfolio manager, Namuh Rhee has now joined Merrill Lynch equity research as first vice president and head of Korean country research. Rhee Capital's offshore Pine Tree fund was seeded in October 2003 by RMF, a subsidiary of hedge fund giant, Man Investments. Rhee's Pine Tree fund received subs…