Sunday, 24 May 2015
Last updated 1 day ago
Feb 18 2010 | 2:13am ET
King Street Capital Management may close its flagship hedge fund to new investments, it told investors.
The New York-based firm has seen the fund’s assets swell over the past year, when it returned 20.1%. The fund now manages $19.2 billion, up from $15.8 billion last January. But the firm doesn’t want the fund to get much bigger.
King Street hopes to keep the fund from exceeding $20 billion, Hedge Fund Alert reports.
The firm will “moderate the future growth of the fund’s capital subject to developing market conditions,” it wrote to investors on Feb. 5.
King Street also said it would change its redemption policy. Where the firm previously permitted withdrawals totaling only 25% of the fund’s overall assets, now investors will be permitted to redeem a quarter of their investment every quarter—regardless of what other investors do.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…