Tuesday, 26 May 2015
Last updated 10 min ago
Dec 8 2011 | 1:02pm ET
Harbinger Capital Management has ended redemptions from a distressed credit fund in advance of its liquidation.
The New York-based firm told investors that it has "determined to suspend voluntary redemptions effective Dec. 30, 2011," Dealbreaker reports. The firm said it would begin to liquidate the Credit Distressed BlueLine Fund in April.
"As you are aware from the fund's offering memorandum, the fund is designed to begin winding up on April 1, 2012," Harbinger wrote. The suspension comes "in anticipation of such wind-up, to allow for a prudent disposition of assets in a manner that we believe allows us to best capitalize on the expected value of these assets in order to protect the interests of all current investors in the fund."
Harbinger said that the three-year-old fund's onshore version has returned 106.44% over its life and the offshore version 112.94%. On the year, the funds are up 11.61% and 11.38%, respectively.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…