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D.E. Shaw Raises Nearly $1 Billion for New Stat Arb Funds

The multistrategy firm is reviving a formerly stand-alone strategy that has operated as a substrategy in its larger funds for the past few years.

New York–based multistrategy hedge fund firm D.E. Shaw & Co. has raised about $900 million for a pair of new hedge funds, according to a regulatory filing. The firm began marketing the funds, which employ a short-term statistical arbitrage strategy, on January 1. Since then, it has raised $373 million for the D.

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