Tuesday, 16 September 2014
Last updated 10 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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