Thursday, 26 November 2015
Last updated 7 hours ago
Nov 11 2008 | 4:40am ET
Citadel Investment Group is closing one of its two reinsurers, after it proved less profitable than the Chicago hedge fund giant had hoped.
Citadel founded CIG Reinsurance in 2004. The firm is pulling the plug because the Bermuda-based property-catastropher reinsurer has had difficulty competing with rivals due to its lack of a financial strength rating, and because its cost of capital is too high, Reuters reports.
Another Citadel reinsurance venture, New Castle Reinsurance, founded a year after CIG Re, will remain open.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…