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Ex-Lehman Brothers Executive to Shut Down Major Hedge Fund

(New York Post) A hedge fund run by former executives of Lehman Brothers reportedly plans to close down after devastating client withdrawals. New York-based River Birch Capital, co-founded by former Lehman President and Chief Operating Officer Bart McDade, is returning client capital after losing a key investor, Bloomberg reported, citing sources. McDade was president of Lehman when it filed for bankruptcy in September 2008.

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