Friday, 22 May 2015
Last updated 8 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.
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…