Raptor on the ropes, says report

Shaky market conditions in August bit off 8% of Tudor Investment Corp.’s Raptor Global Fund, according to Reuters. On Aug. 10 the fund had lost 3.6% of its value for the year, but within a few weeks some $400 million seeped out of Raptor after some investments were “simply crushed,” sources close to Raptor told Reuters. James Palotta, who runs the $8.5 billion fund, has brought in annual returns of 19.2% through the last 14 years, Reuters said. However, even he wasn’t immune to this month’s volatile market conditions after the subprime- mortgage market’s problems spread to equities both stateside and around the world.