Bloomberg – New Castle Funds LLC’s efforts to survive the arrest of its co-founder in the Raj Rajaratnam insider-trading case were set back as a Swiss bank ended a partnership and Rajaratnam decided to liquidate his funds.
Union Bancaire Privée liquidated a fund that it hired New Castle to manage, the Geneva-based bank said yesterday in an e- mailed statement. The Luxembourg-registered Market Neutral U.S. Equity fund had assets of $36.1 million at Aug. 4, according to Bloomberg data.
