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Longacre To Close Main Funds

Hedge fund firm Longacre Fund Management is shutting down its main funds.

    Hedge fund firmLongacre Fund Managementis shutting down its main funds,The Wall Street Journalreports. The move follows investors withdrawing money from the funds. The company had $835 million in assets as of February.

    Established 13 years ago, the firm is being managed by formerBear StearnstradersJohn Brecker,Vladimir JelisavcicandSteven Weissman. In June 2008,Goldman Sachs Group’sPetershill Fund Offshoreacquired a minority interest in Longacre.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromBloomberg.

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