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’Tisbury hit by investor withdrawals
Investors in Tisbury Capital are trying to withdraw $1.4bn of the London hedge fund’s $2bn of assets under management after the fund abandoned an ill-fated US venture. The scale of the withdrawals will end Tisbury’s reputation as one of London’s bigger merger arbitrageurs.
GLG in talks to buy Tisbury
GLG Partners, Europe’s second-biggest hedge fund manager, is in talks to acquire Tisbury Capital in one of the first signs of consolidation in the sector since the crisis in the debt markets. GLG is understood to have approached its smaller rival just days after Tisbury shut its Boston-based US operations last month.
A ‘bloody awful time’ for event-driven hedge funds
Hedge funds aiming to profit from activism and corporate events have been hit hard this month as a raft of deals fell through and markets plummeted, writes the FT’s hedge fund correspondent, James Mackintosh.