Wednesday, 23 July 2014
Last updated 32 min ago
Oct 1 2010 | 3:38am ET
Among the casualties of D.E. Shaw’s massive round of layoffs this week is the hedge fund’s venture capital group.
The New York-based firm has cut all but three of its VC staffers, Fortune reports. Those that remain—including group head Alex Wong—will manage the venture portfolio. They will also be able to make follow-on investments, if necessary.
Wong and his (much smaller) group aren’t giving up on new investments, and are seeking new funding sources, according to the magazine. But it’s not clear whether D.E. Shaw would participate in such a venture.
The firm decided to do away with new venture capital investments as it struggles to make do with much, much less: D.E. Shaw’s assets under management have declined by almost half in the past three years.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…