International Herald Tribune – Clients of Tudor Investment pulled more than $1 billion from the firm’s Raptor hedge fund after it lost 8.5 percent this year, mostly on U.S. equities, according to twoinvestors.
Raptor, which James Pallotta runs from Boston, had about $8 billion in assets before the withdrawals. The fund dropped 3.1 percent in November.
Tudor’s biggest fund, BVI, rose about 5.5 percent through November, around half the industry average. Paul Tudor Jones, who founded the firm in Greenwich, Connecticut, in 1980, considered reducing BVI’s $10 billion in assets to help improve performance, according to an Oct. 25 client letter obtained by Bloomberg. “There is an intense focus here on posting a better 2007 return than our current level,” Jones wrote in the letter.
