Article: Citadel Bought Sentinel Assets, Client Says

CHICAGO (HedgeWorld.com) - Citadel Investment Group LLC is at it again - buying on the cheap what nobody else wants in a declining stock market.

The Chicago-based hedge fund apparently purchased some of the assets of Sentinel Management Group Inc., the Northbrook, Ill.-based futures commission merchant, whose cash funds have recently been hit by subprime and liquidity-related losses, according to one of Sentinel's clients.

Sentinel is one of the latest casualties of the problems in subprime mortgages. Some of its assets consist of short-term paper exposed to the impaired mortgage-backed securities. On Monday [Aug. 13], Sentinel announced that it had frozen redemptions from its funds due to ...

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