Sowood Unloads Credit Portfolio On Citadel
Jul 30 2007 | 1:38pm ET
Sowood Capital Management, burned by big losses in its bond portfolio due in part to fallout from the sub-prime decline, is out of the credit business for now. The $3 billion Boston-based hedge fund sold its credit positions to Citadel Investment Group, which said it assumed control of the “majority” of Sowood’s positions.
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