Galleon Said to End Operations in Singapore at Year-End
Tuesday, December 1, 2009 : PermalinkBloomberg – Galleon Group LLC, the U.S. hedge- fund firm that’s liquidating after its founder was charged with insider trading, will stop operating in Singapore on Dec. 31, said two people familiar with the matter.
At least two firms have been in talks to take on Galleon’s teams both in the U.S. and Singapore, one of the people said, asking not to be identified because the information is private. The teams in Singapore, which had assets of about $500 million before Raj Rajaratnam’s Oct. 16 arrest, also have been approached by other firms focusing on the region, another person said, declining to provide details because of non-disclosure agreements between Galleon and potential investors.
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