Friday, 27 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…