Hedge fund, Diamondback Capital Management, has received withdrawal requests of about $1 billion, The Wall Street Journal reports. The move follows raids by the Federal Bureau of Investigation agents as part of an insider-trading probe. Diamondback may be able to survive the redemption requests as about 29% of its $5.8 billion capital is in multiyear lockups. The fund’s investor, Blackstone Group, plans to keep most or all of its assets in the fund, adds Bloomberg.
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