Thursday, 8 October 2015
Last updated 3 hours ago
Dec 5 2013 | 1:23pm ET
The Baupost Group will return about 15% of its assets to investors at the end of the year.
The Boston-based hedge fund has not given clients a precise figure, merely a range of percentages. But Baupost, which currently manages $28 billion, wants to shrink to about $25 billion, Reuters reports.
That means clients can expect about $4 billion back, according to Reuters.
Baupost announced in September that it would make a distribution, but did not say how large it would be. The payout will be only the second time in Baupost's 31-year history that it has made such a distribution to clients.
A paucity of opportunities in the current market is behind the move, Reuters reports.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…