Tuesday, 24 May 2016
Last updated 16 hours ago
Oct 2 2008 | 10:40am ET
A prominent activist hedge fund has suspended redemptions in an effort to skirt an asset fire sale.
The Wyser-Pratte Euro Value Fund, managed by prominent activist and arbitrageur Guy Wyser-Pratte, has barred withdrawals, effective immediately.
The fund’s directors told investors that the move was made after consultation with Wyser-Pratte in an effort to protect the value of its investments.
“All reasonable steps will be taken to bring the period of suspension to an end as soon as possible,” the fund said.
The US$500 million fund, which targets medium-sized companies in Europe, is managed by Wyser-Pratte from New York.