(Reuters) - Chicago-based Citadel, which manages $14 billion, came to the rescue after Boston-based Sowood, which managed $3 billion, got into trouble with bond trades this summer. Rumors that Sowood might be forced to shut down roiled financial markets late last week.
On Friday a person familiar with Sowood's operations told Reuters that the fund, which manages money for Harvard University and other prominent clients, lost 8 percent in July and 5 percent in June, bringing losses to 10 percent for the year.
Read more at Reuters.com Bonds News
On Friday a person familiar with Sowood's operations told Reuters that the fund, which manages money for Harvard University and other prominent clients, lost 8 percent in July and 5 percent in June, bringing losses to 10 percent for the year.
Read more at Reuters.com Bonds News
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