Reported 5 months ago
Segantii Capital Management Ltd.'s hedge fund faced nearly $1 billion in redemption requests before deciding to shut down, following insider trading charges in Hong Kong. The fund, which managed almost $5 billion in assets, suspended withdrawals and announced its closure, impacting around 140 employees across offices in Hong Kong, New York, and London. The legal action against the firm and its founder, Simon Sadler, for insider trading tied to a 2017 block trade, prompted the decision to wind down the fund and return investors' capital over time.
Source: YAHOO