Thursday, 26 November 2015
Last updated 20 hours ago
Nov 23 2009 | 12:25pm ET
Citigroup has redeemed its seed investment with a credit hedge fund founded by three former traders at the firm as part of a larger move away from outside hedge fund investments.
The Wall Street giant withdrew its entire investment with Claren Road Asset Management, about $250 million, The Wall Street Journal reports. According to the newspaper, Citi’s exit from Claren Road is part of a broader decision to pull its money from external hedge funds.
Citi invested with Claren Road at its founding in 2005 by three former credit traders, John Eckerson, Sean Fahey and Brian Riano. The fund has actually performed quite well despite the credit crisis, returning about 10% last year and more than 20% this year.
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…