FrontPoint Partners to Close Funds After Redemption Requests
This article is for subscribers only.
FrontPoint Partners LLC will close some of its hedge funds after clients asked to withdraw money amid charges a manager benefited from an illegal stock tip.
“We have received capital redemption requests from some of our clients,” Steve Bruce, a spokesman for Greenwich, Connecticut-based FrontPoint said in a statement today. The firm “will be winding down select strategies.”