Jana Fund To Close To New Investors

Jan 27 2014 | 1:56pm ET

Jana Partners is set to close one of its hedge funds to new investors and may stop accepting money for its flagship, as well.

The activist hedge fund told investors that its $3.9 billion Nirvana fund would close to new investors on April 1, Pensions & Investments reports. The move will help preserve investor value, Jana said.

The seven-year-old Nirvana fund is a more concentrated version of Jana's flagship Master Fund. The firm added that it may close the Master Fund "at some point in the future, depending on the opportunity set."

Jana manages about $8 billion.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.