Subprime-Struck Hedge Fund Slashes Jobs

Nov 14 2007 | 8:26am ET

While many hedge funds burned by the collapse of the subprime market have recovered in recent months, one of the first the feel the heat is still suffering.

London-based Cambridge Place Investment Managers, which manages about $9 billion, will reportedly slash 20% of its 120-strong workforce. So far, 25 front- and back-office employees in Boston and London have lost their jobs.

Cambridge Place, founded by Goldman Sachs veterans Martin Finegold and Robert Kramer, has already been forced by the credit crunch to shutter its once-$908 million Caliber Global Investment, as well as limiting withdrawals from two other funds.

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