(Reuters) - BOSTON, July 30 - Hedge fund Citadel Investment
Group, LLC said on Monday that it took over Sowood Capital's
credit portfolio following speculation last week that heavy
losses might force the smaller hedge fund to shut down.
Chicago-based Citadel, which manages $14 billion, came to
the rescue after Boston-based Sowood, which managed $3 billion,
got into trouble with bond trades this summer. Rumors that
Sowood might be forced to shut down roiled financial markets
late last week.
Read more at Reuters.com Bonds News
Group, LLC said on Monday that it took over Sowood Capital's
credit portfolio following speculation last week that heavy
losses might force the smaller hedge fund to shut down.
Chicago-based Citadel, which manages $14 billion, came to
the rescue after Boston-based Sowood, which managed $3 billion,
got into trouble with bond trades this summer. Rumors that
Sowood might be forced to shut down roiled financial markets
late last week.
Read more at Reuters.com Bonds News
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