Raided hedge fund Level Global is extending the deadline for investors to request redemptions, Reuters reports.
Instead of the usual December deadline, their clients will have until the end of January to ask for their money back.
rumours are rife that Level Global has seen massive redemption requests, including from the Cornell endowment, since the fund became ensnared in the FBI’s massive insider trading probe.
The firm, which was founded by former SAC Capital portfolio manager David Ganek, says actual redemptions are less than 10%.
Apparently last week, about $224 million had been requested.
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