Monday, 22 December 2014
Last updated 20 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.