Polygon Offers Investors An Out, At A Price

May 27 2010 | 4:04am ET

Investors stuck in Polygon Investment Partners’ biggest hedge fund are being given the chance to get out, if they’re willing to accept a pretty severe haircut.

The London-based hedge fund said it will allow clients to redeem their investments, but only if they leave a quarter of their money behind. The US$3.7 billion Global Opportunities Fund suspended withdrawals in October 2008, a year in which the fund lost 48% of its value.

Polygon has already returned about half of the fund’s money, but has warned it will take until 2012 to free up the rest.

“We are pleased to have been able to offer this opportunity to those of our investors that had an immediate need for some liquidity,” Polygon’s Paddy Dear said.

According to Bloomberg News, investors representing only about 5% of the fund’s assets have taken Polygon up on the discounted redemption offer.

In Depth

Caliber: Making the Most Out of Marketing and Public Relations

Oct 5 2016 | 7:09pm ET

It has never been harder for small to medium-sized alternative investment firms...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...