Skip to content
Subscriber Only

Visium to Shut Four Remaining Hedge Funds as Manager Charged

  • Decision comes two days after arrest of its star money manager
  • AllianceBernstein to take over multi-sector hedge fund
Updated on

Jacob Gottlieb’s Visium Asset Management, the once high-flying hedge fund firm that at its peak managed $8 billion, is shutting down four of its remaining hedge funds after one of its star managers was arrested and accused of insider trading.

The New York-based firm will liquidate the main Balanced Fund, as well as its Institutional Partners Fund, Equity Alpha Fund, and Equity Alpha UCITS Fund, according to a letter to investors seen by Bloomberg News. Visium earlier on Friday struck an agreement to sell its multi-sector hedge fund to AllianceBernstein LP.