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

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of