Wednesday, 10 February 2016
Last updated 15 hours ago
Jul 12 2010 | 8:44am ET
A firm has bought up a big chunk of the investments in three Cambridge Place Investment Management hedge funds on the secondary market.
Origami Capital has bought $92 million of the $230 million in stakes in the CPIM Structured Credit funds, Hedge Fund Alert reports. The Chicago-based firm, which seeks to buy up shares in illiquid hedge funds on the secondary market, originally sought to buy all of the remaining investments in the funds, which are being liquidated, settling for 40% of them.
Origami made the offer with the permission of Cambridge Place, which began liquidating the funds three years ago. Origami pledged to hold onto the shares until they are fully wound up in about two years.