Odey Suspends Two Hedge Funds After Redemption Requests Surged
- Firm gates Odey European Inc. fund and OEI Mac Inc. fund
- Crispin Odey managed the flagship fund until his recent ouster
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Odey Asset Management suspended two more funds, including its flagship hedge fund, after being hit by redemption requests from investors fleeing the firm following multiple sexual assault allegations against founder Crispin Odey.
The firm received withdrawal requests amounting to about 19% of the flagship Odey European Inc. hedge fund and 35% of the OEI Mac Inc. fund for their next dealing day on July 3, according to two separate letters to clients seen by Bloomberg. Crispin Odey managed the funds until he was removed from the partnership this month, with Freddie Neave taking over from him.