Galleon’s switch to cash may ease redemptions
Monday, November 2, 2009 : PermalinkThe assets of Galleon Group have not been frozen by the US authorities and there should be no hold up in returning money to investors, a source familiar with the matter said.
More than 90 per cent of the funds are now in cash, he said in an update on the unwinding of the US$3.7 billion portfolio as the hedge fund prepares to return money to investors following the shocking arrest of founder Raj Rajaratnam two weeks ago.
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