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December 19, 2018  

Losses, Withdrawals Shrink Midway

Midway Group, which made a killing investing in mortgage securitizations in the years following the financial crisis, has seen its assets plummet amid weak performance and heavy withdrawals.The New York firm, led for 18 years by founder Robert Sherak, currently has about $50 million under management — down from $850 million four years ago. Among the investors that have pulled money from Midway are fund-of-funds managers Morgan Stanley...


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