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Struggling hedge fund Folger Hill is merging with Schonfeld and returning capital in May





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Hedge fund Folger Hill Asset Management is merging with Schonfeld Strategic Advisors and returning capital in May, according to an investor letter sent Tuesday night that was seen by Business Insider.

Most of the jobs held by Folger’s 90-person staff will be moved over to Schonfeld, an investor in Folger’s Asia business, according to a person familiar with the matter. All of the people in the firm’s Asia unit, which has about 45 people, will keep their jobs, but some of the firm’s staff in its roughly 50-person Boston and New York-based business will lose their roles, the person said.

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Source:: BusinessInsider.Com

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