Citadel Curbs Asian Fetish

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The Journal reports that everyone's favorite Midwestern hedge fund is shuttering its Tokyo office, and the twelve employees who work there. Additionally, nearly half (25 workers) of the Hong Kong staff is being dismissed. The remaining operations will be run out of HK, and moving forward, will deal "more in foreign exchange, derivatives and possibly other transactions. (Previously, [Citadel] had pursued an investment strategy that resembled that of many private-equity firms, in which it invested in small companies with sound prospects, often hoping to cash out in an initial public offering)."

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