Endeavour, a $3bn London hedge fund which lost a quarter of its value in a day last March, is in the final stages of shutting its flagship fund after Barclays walked away from a planned rescue. Endeavour decided to shut down its main fund and return money to investors in a smaller sister fund after the flagship failed to recover from big losses on Japanese government bonds and ended the year down more than 40%. A provisional agreement with Barclays Global Investors  was not completed, and the hedge fund has laid off all but 16 of its 60 staff, with 10 more jobs at risk.

This entry was posted by Gwen Robinson on Monday, February 16th, 2009 at 5:05 and is filed under Capital markets, Hedge funds. Tagged with barclays, Endeavour. Edit this entry.