Saturday, 20 September 2014
Last updated 19 hours ago
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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.