Monday, 22 September 2014
Last updated 6 hours ago
Dec 23 2008 | 2:26am ET
Hedge fund Magnetar Capital is closing the gates on investors after it received more than $700 million in redemption requests.
The Evanston, Ill.-based firm, which manages some $8 billion, told investors on Dec. 18 that withdrawal requests in excess of 15% of its multi-strategy fund’s assets were received for its year-end redemption date, triggering the gate provisions, Bloomberg News reports. The $4.8 billion fund is down 30% through November.
Magnetar told investors that it imposed the withdrawal restrictions to avoid forced asset sales. The hedge fund said that those clients who got their redemption requests in by Sept. 30 will get 10% of their request in cash, and another 5% in shares of two Magnetar credit hedge funds.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.