HBK’s gate goes up, as March redemptions hit $2.1 billion


Requests to redeem investments in funds run by HBK Capital Management have exceeded the firm’s 10% gate, so investors who’ve asked for $2.1 billion of their money back at the end of March will only get about 55% of the capital at that time. HBK managed $12.5 billion on January 1.

Last year, the Dallas, Texas multistrategy firm reorganized its management structure following its first-ever down quarter and about $1.4 billion worth of redemption requests, but that did not staunch the outflow of capital. After last year’s poor performance and redemptions, the firm’s total assets fell about 11%, down