Embattled-Odey Asset Management gates fund

Odey Asset Management has gated another fund after withdrawal requests surged in the wake of sexual misconduct allegations against founder Crispin Odey.

In a letter to investors, the hedge fund said it was temporarily suspending its $80m Special Situations fund following the receipt of a “sizeable level” of redemption requests. The suspension, which Odey Asset Management said was in the best interests of all shareholders, will continue “until such time as the directors consider it appropriate to lift it”.

The Mayfair-based partnership has been thrown into crisis after a Financial Times investigation detailed allegations of sexual assault or harassment from 13 women against Odey, 64, over a 25-year period.

It has gated three other funds and closed one, and on Thursday confirmed it would now seek to dismantle the firm, which Odey founded in 1991. Odey, who strenuously denies the claims against him, was ousted on Saturday.