ZeroHedge via. WSJ report that investors in the Cerberus hedge fund want out.
Cerberus Capital Management has been swamped with redemption requests with the Wall Street Journal reporting that investors are asking to pull out $5.5 billion or 71 percent of assets from its hedge funds.
Cerberus last month tried to entice investors into staying with the firm, but found that its clients overwhelmingly wanted to leave, the newspaper reported.
Last year, when the average hedge fund lost 19 percent, Partners lost 24.5 percent on investments.
I am not sure how this is going to effect the other assets owned by Cerberus. According to Wikipedia Cerberus have $24 billion in assets.
Among their assets is the Freedom Group which owns Remington, Bushmaster, Marlin and other gun manufacturers.
Thanks to jdun1911 and Brian info about this story.Related