Level Global Extends Redemption Deadline

Dec 22 2010 | 11:53am ET

Clients of Level Global Investors will have an extra month to think about whether they wish to remain such. The New York-based firm, one of three hedge funds raided as part of the Justice Department’s insider-trading probe, said investors will have until the end of next month to file redemption requests.

Normally, such withdrawal notices would be due at the end of the year.

Level Global, which manages about $4 billion, has said it has been assured by the government that it is not the focus of the probe, which has already produced the arrests of six people associated with expert-network firm Primary Global Research. Level Global was a client of Primary Global and worked with at least one of the consultants arrested last week.

Level Global has denied that it has suffered large redemption requests in the month since the raid. Last week, the firm told clients that redemptions have so far amounted to less than 10% of its assets.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...