Category Archives: Closing Hedge Funds
Hedge Fund Adviser Tozai to Close After Redemptions
Bloomberg – Tozai Investment Advisory Ltd., a Tokyo-based hedge fund adviser, is closing its business after market losses and investor redemptions cut its funds’ assets to zero from a peak of $70 million, a senior partner said. The Cayman Island-based […]
Citadel Cuts Asian Principal Investments, Exits Tokyo
Bloomberg – Citadel Investment Group LLC, the hedge fund manager founded by Kenneth Griffin, will close down its Tokyo office and Asian principal investments operations, cutting more than half of jobs in the region. Citadel will run its remaining Asian […]
Shareholders Flee Fortress
Forbes – Fortress Investment Group pulled up the portcullis on its Drawbridge funds Wednesday, but it’s stock is under seige. Fortress Investment Group‘s directors voted to temporarily suspend pending redemptionsafter investors asked to pull out roughly $3.5 billion by year’s end from its […]
DE Shaw, Farallon Restrict Withdrawals as Fund Freeze Deepens
Bloomberg – D.E. Shaw & Co. LP, the investment firm run by David Shaw, and Farallon Capital Management LLC limited withdrawals by clients, joining more than 80 hedge-fund managers to impose restrictions in the past two months. D.E. Shaw, which […]
Investors reject Centaurus restructure
FT Alphaville – Centaurus Capital is running down its flagship hedge fund after investors with the London activist failed to back an emergency restructuring. Centaurus, founded by former BNP Paribas traders Bernard Oppetit and Randy Freeman, will now repay the bulk of […]
Drake Shuts Down Hedge Funds, Looks to Future
New York (HedgeCo.Net) – Drake Management has officially closed up shop on all three of its hedge funds, delisting them from the Irish Stock Exchange yesterday. The firm decided to wind down their $2.5 billion Global Opportunities Fund in May, […]
Andor Hedge Fund to Liquidate
New York (HedgeCo.Net) – Greenwich-based Andor Capital Management will liquidate its $2 billion hedge fund after posting losses due to unfavorable market conditions, following in the footsteps of many failed hedge funds this year. Co-founder Daniel Benton announced the […]
Turnberry Hedge Fund to Liquidate
New York (HedgeCo.Net) – Turnberry Capital Management LP has decided to close its doors and liquidate its assets, after many investors inquired about getting their money back. The hedge fund, which specializes in purchasing distressed debt, once held approximately $800 […]
Citigroup to Close Another Hedge Fund
New York (HedgeCo.Net) – Citigroup Inc. will close its $400 million Tribeca Convertible hedge fund in what will help wind down the $2 billion Tribeca Global Investments Group, according to a report published on Bloomberg.com. The closing of the fund […]
Seeder Pulls Out, New York Hedge Fund to Liquidate
New York (HedgeCo.Net) – New York hedge fund Manhasset Capital will start the liquidation process later this month after the decision was made by the fund’s seeder to pull out their $100 million initial investment. A spokesperson for Fairfield […]
Another handicap for hedge funds
CNNMoney.com – It’s time to say goodbye to Old Lane, the hedge fund management company bought by Citigroup last July. Citi paid a very dear $800 million to snag the fund and its founder Vikram Pandit, who now runs the […]
Future grim for two Bear Stearns hedge fund managers
New York (HedgeCo.Net) – Troubles keep arising for Bear Stearns, even after its demise and the resulting takeover by JPMorgan Chase. It seems investors are still targeting Bear after the implosion of their two failed hedge funds last year that […]
