Saturday, 30 August 2014
Last updated 20 hours ago
Dec 18 2008 | 3:14am ET
The incredible shrinking hedge fund that is Citadel Investment Group continued its downsizing last week with the elimination of its special situations group.
The Chicago-based hedge fund giant, which has been cutting jobs and teams in the wake of huge investment losses, shut down the group last week, CNBC reports.
The group was part of Citadel’s principal investing group, whose closure was announced by the firm earlier this month.
The special situations group once managed as much as 15% of Citadel’s assets, but now runs just 3%. Its portfolio is down about 61% on the year, according to The New York Times.
Citadel is also reportedly halving its staff in Asia, and has cut jobs in trading, back-office and human resources operations. The firm has also suspended redemptions from its two largest funds, which have lost almost half their value this year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...