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RPT-EXCLUSIVE-Hedge fund firm Magnetar cuts London jobs

Reuters – Multibillion dollar hedge fund firm Magnetar Capital has shut its London risk arbitrage desk and cut seven jobs, the firm told Reuters on Monday, as the industry goes through its biggest crisis.

A spokesman said four traders and three support staff had left the 15-person London office of Magnetar, which runs multi-strategy hedge funds.

"There’s been an appropriate reduction in the office to reflect the decision of the firm not currently to do risk arbitrage out of its London office," the spokesman said.

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