Salient to Investors:

Salient Partners LP is limiting withdrawals after clients pulled more than $1 billion this year amid lackluster returns.

The most sophisticated institutional investors are getting the same treatment that endowments and foundations received in 2008: a manager is blocking them from getting their money out.

GFIA said that in October 2008, 18 percent of the hedge fund industry’s assets were subject to withdrawal restrictions.

Read the full article at