Real Estate Hedge Fund Restricts Redemptions

Jan 16 2008 | 6:41am ET

Mercury Real Estate Advisors has restricted withdrawals from two of its hedge funds stricken by the credit crisis.

The firm told investors that it would withhold between 50% and 60% of the net asset value of shares redeemed, Hedge Fund Alert reports.

In a letter dated Dec. 18, Mercury said it was either unable or unwilling to sell fixed-income holdings in its Real Estate Securities and Real Estate Securities Offshore funds. The former declined by 8.7% last year through November, and the latter dropped 9.5%.

The onshore version of the fund manages $105 million, and the offshore version $205 million. Overall, the firm manages $900 million in hedge funds.


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note