Dec
02
Hedge Funds Brace for Redemptions
By-
Industry coming off worst third-quarter inflows since 2009
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BlueCrest, Och-Ziff among firms that saw withdrawals in 2015
When BlueCrest Capital Management told investors Tuesday it would no longer oversee money for outsiders, one thing founder Michael Platt didn’t mention was that clients had already pulled billions of dollars this year.
Platt, who cited client demands and pressure on fees as a reason for his decision, isn’t alone in feeling the heat from investors. Firms including Och-Ziff Capital Management Group LLC and Mason Capital Management have seen cash flee this year, and others such as Fortress Investment Group LLC’s macro funds business shut down after redemptions and losses…
Hedge Funds Brace for Redemptions
