Investors in hedge fund, Diamondback Capital, will withdraw $534 million from the firm by the end of March 2011.

February 8, 2011

Investors in hedge fund, Diamondback Capital, will withdraw $534 million from the firm by the end of March 2011, Reuters reports. The investors are seeking to take out their investment following the government’s insider trading probe raids in 2010.

The redemption requests amount to 9.4% of the firm’s capital. The firm, which was founded by Richard Schimel and Larry Sapanski, has two portfolios under management, the Diamondback Partners and the Diamondback Offshore Fund.

Click here for the story from Reuters.

Click here for the additional coverage from The New York Times.

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Diamondback Investors To Redeem $534M

Investors in hedge fund, Diamondback Capital, will withdraw $534 million from the firm by the end of March 2011.

Investors in hedge fund, Diamondback Capital, will withdraw $534 million from the firm by the end of March 2011, Reuters reports. The investors are seeking to take out their investment following the government’s insider trading probe raids in 2010.