Peloton Delists Multi-Strategy Fund Shares

Jul 1 2008 | 9:54am ET

Peloton Partners has taken another step towards extinction, delisting the shares of its multi-strategy fund from the Irish Stock Exchange.

The London hedge fund manager, which decided to close earlier this year after its once-US$2 billion ABS Fund was wiped out as its portfolio of mortgage-backed securities collapsed in value, informed the Dublin bourse that it would delist its shares as of this past Friday.

The firm is in the process of winding down its multi-strategy offering, where investors have been told to expect losses in excess of 50%. The firm must still sell some of its positions before returning the rest of its capital to clients, a process expected to take as much as two more months.

The firm must also still let go of its 10 remaining Financial Services Authority-registered staff—it has already said goodbye to 33 such employees—before deregistered with the FSA itself, winding up its balance sheet and deregistering as a company.

RELATED STORIES

Peloton Founder Sets Up New Hedge Fund
Peloton Founder Says Sorry, But Investors May Get Nothing
Lenders Begin To Seize Peloton Assets
Peloton To Liquidate $2 Billion Fund


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...