Politics
DE Shaw Moves to Close $5 Billion Lithic Fund to New Money
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DE Shaw Moves to Close $5 Billion Lithic Fund to New Money D.E. Shaw & Co. is preparing to close another of its strategies to new money, adding to a wave of hedge funds spurning cash just as investor interest in the industry picks up. The multistrategy investment firm may close its Lithic fund to new cash as early as next month, according to people with knowledge of the matter. The fund manages more than $5 billion, the people said, asking not to be identified because the details are private.
DE Shaw Moves to Close $5 Billion Lithic Fund to New Money
D.E. Shaw & Co. is preparing to close another of its strategies to new money, adding to a wave of hedge funds spurning cash just as investor interest in the industry picks up.
The multistrategy investment firm may close its Lithic fund to new cash as early as next month, according to people with knowledge of the matter. The fund manages more than $5 billion, the people said, asking not to be identified because the details are private.