Holy: DE Shaw is down $9.4 billion since the beginning of last year — a whopping 40$ of their assets under management, according to AR Magazine.
The firm now manages $14.23 billion.
Last we heard in 2010, the fund managed about $21 billion.
This is just the latest piece of back news for the firm. Recently, DE Shaw’s main guy in China (CEO of Greater China and a Partner) resigned to start his own fund. Earlier this year, the firm said that it would be fee-slashing (likely to hold on to fleeing investors).
Looks like the firm is struggling without its big guy, David Shaw, who’s retired but remains a large shareholder. (The place is now run by Anne Denning and Max Stone.)
For a review of how the firm has fallen, click here to read how DE Shaw has lost its luster >