Hedge Funds Redemptions

BAM gives investors what they want: cash


Dmitry Balyasny correctly called the market plunge of the second half of 2008, pulling his $2.5 billion Balyasny Asset Management funds back into cash in September - just in time to avoid the market's bloodbath. Investors rewarded him at the end of the year by lining up at his cash window for redemptions.

The redemption requests reached the 20% percent trigger for gates in his flagship $2.3 billion Atlas Fund, which ended the year flat. But Balyasny opted not to raise them, which put him in league with a select group of fund managers, which includes Brian Riano of