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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...