{"id":9478,"date":"2008-12-23T00:00:00","date_gmt":"2008-12-23T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"magnetar-said-to-limit-fund-withdrawals-after-losses","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2008\/magnetar-said-to-limit-fund-withdrawals-after-losses.html","title":{"rendered":"Magnetar Said to Limit Fund Withdrawals After Losses"},"content":{"rendered":"<p>Bloomberg &#8211; Magnetar Capital LLC, the $8 billion hedge-fund firm co-run by former Citadel  Investment Group LLC trader Alec Litowitz, limited withdrawals from its biggest fund after  it lost 30 percent this year through November, according to two people familiar  with the fund. <\/p>\n<p>The restrictions, known as gates, were triggered after clients sought to pull  more than 15 percent of their money from the firm&rsquo;s $4.8 billion multistrategy  fund, said the people, who asked not to be identified because the information is  private. <\/p>\n<p>Hedge funds including D.E. Shaw &amp; Co. LP and Farallon Capital Management  LLC this month imposed gates so they wouldn&rsquo;t be forced to raise cash by  liquidating assets at distressed prices. Magnetar, based in Evanston, Illinois,  told clients who asked for redemptions by Dec. 31 that they will get 10 percent  of their requests in cash and 5 percent in shares of its two credit funds, the  people said. <\/p>\n<p>  <strong><a target=\"_blank\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&#038;sid=aaFjNjgdJA0k&#038;refer=us\" title=\"Read Complete Article\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Magnetar Capital LLC, the $8 billion hedge-fund firm co-run by former Citadel Investment Group LLC trader Alec Litowitz, limited withdrawals from its biggest fund after it lost 30 percent this year through November, according to two people familiar [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[4435,2410,4439,4437,2355,2462,738,4436,4434,4433,2862,4438,48,4325,4292],"class_list":["post-9478","post","type-post","status-publish","format-standard","hentry","category-activist-funds","tag-alec-litowitz","tag-amp","tag-assets","tag-capital-llc","tag-citadel-investment-group","tag-citadel-investment-group-llc","tag-e-shaw","tag-evanston-illinois","tag-farallon-capital-management","tag-farallon-capital-management-llc","tag-gates","tag-magnetar-capital","tag-money","tag-redemptions","tag-withdrawals"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9478"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9478\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}