Saturday, 31 January 2015
Last updated 10 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…