New York (HedgeCo.net) – Carlyle Group’s Claren Road Asset management is seeing an incredible amount of redemption requests in the second half of 2015. The firm saw almost $2 billion in redemption requests in the third quarter and now they are facing close to another billion in the fourth quarter according to a report from the Wall Street Journal.

According to the article, Claren received $950 million in withdrawal requests before the quarterly deadline which came last week. This would leave the firm with $1.25 billion in assets under management after having as much as $8.15 billion at the end of the third quarter in 2014.

Claren Road has informed investors that it would delay withdrawal request made in the fourth quarter just as it did in the third quarter. The firm stated that it was in the best interest of retained clients as well as redeeming clients that the redemptions be delayed so that assets could be sold in a more orderly manner.

With regard to the third quarter withdrawal requests, the firm had stated that they would delay approximately two-thirds of the requests from the third quarter, but hasn’t made a statement yet about the fourth-quarter requests.

Rick Pendergraft
Research Analyst
HedgeCoVest