Claren Road Clients Asked to Pull $1.97 Billion After Losses
(Bloomberg) -- Investors in Claren Road Asset Management, the hedge fund that’s extended losses this year, asked to pull about 48 percent of the firm’s $4.1 billion in assets, according to a person with knowledge of the matter. Bloomberg's Devin Banerjee has more on "Bloomberg Markets." (Source: Bloomberg)
Investors in Carlyle Group LP’s Claren Road Asset Management asked to pull about 48 percent of the hedge fund’s $4.1 billion in assets after losses this year, according to a person with knowledge of the matter.
The firm is facing $1.97 billion in withdrawals for the end of the quarter, said the person, who asked not to be named because the information is private. Its main fund has fallen 5.6 percent this year through mid-August on wagers on Greece, energy and financials, the person said.