Sunday, 26 June 2016
Last updated 1 day ago
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.