Saturday, 25 April 2015
Last updated 1 day ago
Feb 28 2014 | 10:16am ET
D.E. Shaw Group will reduce the management fee it charges on side pockets it set up seven years ago.
The New York-based firm will begin charging 1.75% on the illiquid portfolios in July, The Wall Street Journal reports. It is the second such fee cut in three years; in 2011, D.E. Shaw cut its management fee on all hedge funds to 2.5% from 3%.
It is unclear how much of D.E. Shaw’s $32 billion are held in side pockets.
Investors approved the separation of the private-equity-style investments in 2006. Among the assets in the portfolios are wind-energy, wireless-network and specialty-metal companies.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…