Diamond Lake launch put on hold

May 22nd, 2008
| More
Diamond Lake, a new hedge fund set to be launched this year by Dow Kim a former executive at Merrill Lynch is to be put on hold. When the fund was announced it was reported to have close to $4 billion in assets. However, after the credit crunch large backers have pulled out of the deal. Credit Suisse pulled out of the deal, as did a Korean bank which promised $200 million to the start up hedge fund. The fund launch has been put on hold but all members of the team are working to raise capital and go ahead with the launch. It is estimated that they have $600 million in funds raised thus far.


More Recent Headlines

Riley Sends Letter to Zilog

Citigroup offers $250m to Falcon Strategies investors

Lehman Annouces Restructuring and Finance Group

Icahn vs. Yahoo Proxy Battle

Paulson Joins Icahn’s Team in Support of Yahoo/Microsoft Merger

CSX donates to congress before hearings

Pirate Capital Stops Investor Withdrawals

Deutsche Banks sells portions of Alliance Boot's loans

Icahn buys up Yahoo shares

Amaranth's Maounis to start hedge fund Veriton