Sunday, 26 April 2015
Last updated 1 day ago
Jun 20 2011 | 2:01am ET
The next step in RAB Capital's fall from grace is set to come this week, when the once-high-flying hedge fund confirms its plan to delist its shares.
London-based RAB, among Europe's biggest and best-performing hedge funds until 2008, has said in May that it would likely pull its shares from the Alternative Investment Market. The firm now plans to continue its uphill struggle for survival as a private company, Reuters reports.
In April, RAB said that investors would pull 79% of the assets remaining in its flagship Special Situations Fund, leaving the once-US$2 billion fund with less than US$100 million in assets. According to Reuters, most of its other funds are even smaller than that, leading to the distinct possibility that RAB will not be able to continue at all.
The firm has six funds with less than US$100 million, excluding Special Situations. Its largest remaining fund after Special Situations finishes paying out its redemptions will be its Energy Fund, with US$247 million.
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…