Getting your player ready...
NEW YORK — The Wall Street Journal reported that investors in the main hedge funds of New York-based Cerberus Capital Management LP want out and are asking for the return of more than $5.5 billion, or about 71 percent of fund assets, citing people familiar with the matter.
The newspaper reported on its website Friday that chief executive Stephen Feinberg and co-founder William Richter wrote to clients Thursday that they were “surprised” by the response to a plan the company announced last month to reconfigure its funds. The shift gives investors a chance to withdraw their funds.
