Galleon Group, the hedge fund whose founder and president, Raj Rajaratnam is at the centre of insider trading charges, is rapidly liquidating its investments in expectation of a wave of investor redemptions, and is likely to move about a third of assets into cash, according to brokers. In a letter to clients sent Monday night, Rajaratnam said the charges against him were “without exception, entirely baseless”. The next redemption window for Galleon’s flagship Diversified fund is in mid-November.

This entry was posted by Gwen Robinson on Wednesday, October 21st, 2009 at 4:52 and is filed under Capital markets, Hedge funds, People. Tagged with Galleon, Raj rajaratnam. Edit this entry.