Monday, 30 November 2015
Last updated 7 min 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…