Thursday, March 19, 2009
Closed hedge funds
The New York Times recently wrote an article about those hedge funds that did not make it out of the turmoil of the recent stock market. Last year, 200 hedge funds have shut down, which at one point controlled $84 billion. Some of those included: Fairfield Greenwich, Treemont Group, and Kingate Management; all of which had money invested with Madoff. Drake Management also shut down, but had no funds invested in that scheme. For more, read the article here.