Wednesday, 7 October 2015
Last updated 12 hours ago
Oct 28 2008 | 2:00am ET
For the second time in as many months, RAB Capital is seeking to restructure one of its hedge funds.
The British firm has suspended redemptions from its Energy Fund, which has lost more than 50% this year. RAB has given investors two choices: accept a new lock-up in exchange for reduced fees, or accept so-called “redemption shares.” Despite the moniker, holders of redemption shares will not be able to escape so easily, HedgeCo.net reports. They will be unable to get their money back until the fund, which once managed as much as US$1.5 billion, recovers.
The restructuring is similar to one accepted by investors in RAB’s flagship Special Situations Fund last month.
Energy Fund investors have until Friday to let RAB know which route they’ll take.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…