Citadel will close one of its residential mortgage funds following the departure of its portfolio manager, Bill King, Bloomberg reports. King left the firm after the appointment of Glenn Perillo as co-manager of the firm’s mortgage funds.
Citadel liquidated the fund because of some clients who wanted to take out their money from the $200 million mortgage fund, following King’s exit. Citadel may also close its $100 million mortgage fund for offshore investors.
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