Schonfeld Still Lacks $3 Billion Despite ‘Active’ Talks (2)

Schonfeld Strategic Advisors still hasn’t raised the $3 billion it’s been seeking, despite being close to securing it last year.

“We haven’t yet formalized a drawdown facility partnership,” the firm said in an email to employees seen by Bloomberg. “We remain in active discussions with the initial set of investors we engaged with” in the fourth quarter.

Schonfeld also said that new interested parties emerged in the first quarter.

The development is the latest twist in a saga that captivated the hedge fund industry for much of last year. In November, Schonfeld abruptly ended talks to enter a partnership with ...