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On Wednesday, Galleon Group founder Raj Rajaratnam told employees via letter that the company is going to wind down all of its hedge funds. In a Wall Street Journal article (subscription required), a person familiar with Galleon said that one of the alternatives the company is exploring is selling out to another firm.
These alternatives were approached by Rajaratnam in his letter, as he told employees that it is "in the best interest of our investors and employees to conduct an orderly wind down of Galleon's funds while we explore various alternatives for our business."
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