Big hedge funds raise money to capitalise on market turmoil

DE Shaw is raising $2bn in the first fundraising for its flagship vehicle in seven years, joining rivals Baupost Group and TCI Fund Management in a bid to capitalise on opportunities thrown up by market turmoil.

When markets sold off this month the New York-based quantitative group started approaching investors about raising $1bn for its $13bn Composite fund, which has been closed to new investments since 2013. Read more