Credit Renaissance Cuts Off Redemptions

Jul 5 2012 | 10:51am ET

Hedge fund Credit Renaissance Partners has imposed a year-long redemption suspension in the face of sizeable losses.

The New York-based firm told clients that withdrawals from its eponymous flagship fund would be barred until June 30, 2013. Credit Renaissance said the move was made "in the best interest of all of the shareholders," but did not elaborate further in a note posted with the Irish Stock Exchange.

Credit Renaissance has lost 7.53% over the three months to the end of May and 15.03% in the 12 months to that point, Investment Europe reports. According to Eurekahedge, it is 35.19% below its high-water market.

Credit Renaissance invests in distressed debt, including mortgage- and asset-backed securities.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.