Monday, 27 April 2015
Last updated 2 days ago
Apr 30 2010 | 11:31am ET
Citibank has yanked its investment from a hedge fund it helped seed.
The Wall Street giant has redeemed its investment from FiveT Capital, which has followed up a strong 2008—when most other hedge funds were losing double-digits—with 14 months of underperformance. Citibank pulled its allocation to the Swiss equity long/short fund earlier this year, HFMWeek reports.
Nor is Citi alone: FiveT’s clients withdrew half of their assets from the firm in February.
FiveT is down 11.28% this year through February, after losing 9.06% in 2009.
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…