FrontPoint Hit With $3B in Redemption Requests

FrontPoint Partners, a $7.5 billion hedge fund currently embroiled in the U.S. govt’s fast-moving insider trading probe, has been asked to return $3 bln to its investors. “The deadline for year-end redemptions has elapsed and we have received approximately $3 bln in total redemption requests,” FrontPoint co-chief executive officers Dan Waters and Mike Kelly said in a letter sent to investors on Friday. – Reuters

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