Fund launches & closures Hedge Funds

Pallotta sticks to plans for Raptor to fly solo

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James Pallotta isn’t letting the market’s recent craziness stall plans to spin his Raptor Global fund out of Tudor Investment Corp. Pallotta told the fund’s investors earlier this week that spinoff plans are on track, that the newly restructured fund will begin investing in January and that they should stick with him.

Raptor, which had a onetime high of $9 billion in assets under management, has seen its assets shrink to less than $5 billion as investors have pulled their capital following poor returns. The fund was down 15.18% for the year as of October 15. But Pallotta believes