Pequot To Close In Face Of Insider-Trading Probe

May 27 2009 | 8:54pm ET

Facing a renewed insider-trading investigation, Pequot Capital Management and founder Arthur Samberg are throwing in the towel.

Samberg told investors today that he was closing the firm and three of its hedge funds. The remaining two funds, Special Opportunities and Matawin, will be spun off into separate entities. Samberg, who said he plans to retire, will have no role with the new firms.


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