Fairfield Greenwich Fund Sued by Investors (Fund News)
Walter Noelâ??s Fairfield Greenwich Group, the hedge-fund firm that had $7.5bn invested with Bernard Madoff, was again sued by investors over claims it failed to protect their assets.
Millennium Management, a $11bn New York hedge fund, has appointed an independent administrator amid demands by investors in the wake of the alleged Bernard Madoff fraud.
Funds from London managers GLG Partners, RWC Partners and Oceanwood Capital all introduced last-minute restrictions as the year ended, while Ilmatar, a Finnish fund, announced that it would close.