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Satellite Asset Management shutting down

Reuters India – Satellite Asset Management LP, a $2.8 billion (1.84 billion pounds) hedge fund founded by former employees of billionaire George Soros, is closing down because of client withdrawals, Bloomberg said on its website late Friday.

The New York-based firm has started returning money to investors from its three funds, Satellite Overseas Fund Ltd, Satellite Fund II LP and Satellite Credit Opportunities Ltd, the report said, citing a person familiar with the matter.

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