Monday, 22 September 2014
Last updated 3 hours ago
Sep 29 2010 | 10:21am ET
D.E. Shaw Group, which has seen its assets under management drop by half over the last two years, has cut about 10% of its employees.
The roughly 150 casualties range from senior executives to back-office staffers working on the New York-based firm’s Composite Fund. Composite was one of the two funds at D.E. Shaw that restricted redemptions in 2008, despite losing roughly half as much as the average hedge fund that year.
Those withdrawal limits are set to completely expire at the end of this month.
“The D.E. Shaw Group has taken steps to strengthen our business and maximize value for our investors over the long term,” the firm said.
D.E. Shaw currently manages about $21 billion, down from its $40 billion peak in 2008. Most of the decline has been due to investor redemptions.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.