Hedge fund Ore Hill limits redemptions

Hedge fund Ore Hill Partners, a $3 billion credit specialist, has barred clients from redeeming their money, imposing a freeze just as investors clamored for an exit, the company said on Friday.

The firm, half owned by Man Group Plc, the world's largest publicly traded hedge fund, put up a so-called gate provision on its flagship portfolio this week, limiting the amount of withdrawals after investors sought the return of roughly $300 million, said an investor who asked not to be identified.