Citi Quits Hedge Fund FiveT

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.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note