D.E. Shaw Turning Away New Investors

Oct 7 2013 | 11:36am ET

D.E. Shaw Group has closed its main hedge funds to new investors.

The New York-based firm, which manages $32 billion, shut its multi-strategy Composite Fund at the end of the summer, the Financial Times reports. D.E. Shaw closed its Heliant and flagship Oculus funds earlier in the year.

Between them, the three funds manage the lion's share of the firm's assets.

D.E. Shaw elected to close the funds to new investors in an effort to protect its returns. While it does not believe its performance has been affected by size, the firm did not want to wait until after it was to act. Oculus returned 20% last year and 18% in 20% in 2012, but is up much less this year.

Several smaller and bespoke strategies, including those investing in reinsurance and mortgage bonds, remain open to investment.

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...