Galleon Group is winding down all its hedge funds just days after billionaire Raj Rajaratnam, its founder and president, was charged along with five others for insider trading, sparking investor withdrawals. Writing to clients on Wednesday, Rajaratnam said it was in their “best interest” to conduct an “orderly wind down” of Galleon’s funds and explore “alternatives” for the business. The WSJ meanwhile reports that the informant who touched off the insider-trading case is a hedge fund manager who worked for Galleon in the late 1990s.

This entry was posted by Gwen Robinson on Thursday, October 22nd, 2009 at 4:50 and is filed under Capital markets, Hedge funds, People. Tagged with Galleon, Raj rajaratnam. Edit this entry.