Caxton Says Cutting 'Exposure'
Updated from 1:30 p.m.
The $12.5 billion fund, run by Brooklyn native Bruce Kovner, is not failing, according to sources. But they say its bankers are calling for the New York-based hedge fund to put up more money, and this is pressuring the giant hedge fund company to sell some assets.
JPMorgan declined to comment. Goldman said it doesn't comment on market rumors.But Caxton finance chief John Forbes says the firm isn't facing any unusual margin calls, though he admits the firm is cutting back its risk profile in response to rising volatility in the markets. "We are lowering our exposure until we are more comfortable with where the markets are going," Forbes tells TheStreet.com in a phone interview. "Our current
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