Citi bars withdrawals from hedge fund

Investors are prohibited from withdrawing funds from CSO Partners.
FEB 15, 2008
By  Bloomberg
Citigroup Inc. has barred investors from withdrawing their funds from CSO Partners, a London-based hedge fund, that specializing in corporate debt, after investors tried to withdraw more than 30% of the $500 million in assets under management the fund controls. John Pickett, former manager of the fund, left in December following complaints from investors. The fund was launched in August 2004 and generated a 27% total return since then. The alternative advertising division of Citigroup represents a relatively minor section of the business, employing around 1,000 people.

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