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Diamondback Is Shutting Down

WSJ – Hedge fund Diamondback Capital Management LLC told investors Thursday that it plans to close and wind down its funds after receiving redemptions requests totaling more than a quarter of its assets.

In a letter to investors Thursday, the Stamford, Conn., hedge fund’s founders Richard Schimel and Larry Sapanski said they received redemption requests for Dec. 31 of about $520 million, or 26% of its assets under management. As a result, the fund would be left with about $1.45 billion in assets under management.

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