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Report: Clients seek to withdraw $1.5B from Visium Asset Management

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Report: Clients seek to withdraw $1.5B from Visium Asset Management

Certain VisiumAsset Management LP clients are seeking to withdraw approximately $1.5billion from the firm, The Wall Street Journalreported May 4, citing "people familiar with the matter."

One-third of client investments in Visium's flagship fund isincluded in the redemptions, according to the report. The sources told the Journal the redemptions are payable by theend of the second quarter.

In April, Visium obtained new investments totaling approximately$80 million, the news publication said, citing a spokesman. The company is discussingadditional investments from other investors and continued to appoint investmentstaff.

The Journal reportedin March that the Department of Justice and the SEC are investigating the firm over trading and valuation issues.