Hedge Funds

Citadel émigré raises $1.5 billion


Former Citadel Investment Group equities chief Anand Parekh's Highliner Investment Group opened its flagship equity fund to outside capital on April 1, pulling in $400 million from a small group of investors and bringing the new firm's total assets to about $1.5 billion.

Prior to the opening, Parekh had accepted more than $1 billion in a managed account run for a single anchor investor, reportedly Deutsche Bank, where Parekh had been head of the firm's North American structuring division prior to joining Citadel in 2003. At Citadel, Parekh was a partner and, as one of seven business heads, oversaw