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Diamondback Capital Investors Didn't Sweat FBI Raid

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Unlike certain other hedge fund investors (no names: FrontPoint) Diamondback clients have balls.

The investor redemptions total about 9.4 percent of the firm’s assets, Diamondback co-founders Rich Schimel and Lawrence Sapanski said in a Feb. 1 letter. Blackstone Group LP, which invests client money with Diamondback and had the most eligible for redemption without penalty, plans to keep most or all of the assets in the fund, said two people briefed on the matter who asked not to be named because the information is private.

Diamondback Gets $534 Million of Withdrawal Requests [Bloomberg]