D.E. Shaw to give back money in multistrategy fund
By Katrina Dean Allen
Mon Sep 13, 2010
The firm has returned capital in its multistrategy fund and is offering a new option that will allow investors to avoid exposure to private investments.
D.E. Shaw is making good on redemption requests from
investors in its multistrategy D.E. Shaw Composite fund after
almost two years of limited withdrawals, and the firm expects
assets to drop significantly as a result. But in a move to
attract new investors, the firm is at the same time offering a
new share class for the multistrategy fund that will exclude
exposure to its less liquid side pockets.
The firm recently notified investors that it would be lifting
a gate of 6.25% on investor withdrawals that the firm set in
its original offering documents. D.E. Shaw noted that...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.