Friday, 30 January 2015
Last updated 13 hours ago
Nov 7 2008 | 2:20am ET
Like many hedge funds, Icahn Associates is facing big redemption requests. But while other fund scramble to find new investors to replace those leaving, founder Carl Icahn has another option: replace them himself.
The legendary activist investor and his New York-based holding company, Icahn Enterprises, have pumped $500 million into Icahn Associates over the past several months. The hedge fund has received redemption requests for some 15% of its $6.6 billion in assets.
All of the withdrawals were requested by outside investors, Icahn Enterprises vice chairman Keith Meister said. Outside investors account for some $4.3 billion of the fund’s assets.
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…