DE Shaw Moves to Close $5 Billion Lithic Fund to New Money

D.E. Shaw & Co. is moving to close its Lithic fund to new investments, a strategy that has seen significant investor interest. This move by the prominent hedge fund manager indicates a broader trend within the industry where several firms are limiting new capital inflows, despite a recent uptick in investor demand for hedge fund strategies. The Lithic fund, which focuses on quantitative strategies, has experienced substantial growth, prompting the decision to cap its assets. This action by D.E. Shaw follows similar decisions by other large hedge funds that have recently closed their doors to new investors, signaling a strategic shift in managing fund size and performance.