12.23.2008

List of Hedge Funds Halting Redemptions

Hedge Fund Redemptions Halted
Dozens if not hundreds of hedge funds have limited investors' redemptions in the last several months. Below is a partial list of hedge fund that have limited investor redemptions/withdrawals:


Absolute Capital Management - The fund that once managed more than $3.2 billion notified investors in October, 2008 that it would halt withdrawals and close two of its funds.

Basso Capital Management - Connecticut based Basso Capital Management halted withdrawals from several of its funds for the third quarter, 2008.

Blue Mountain Capital Management - On Nov. 4, 2008 Blue Mountain Capital Management, facing withdrawalas from investors and fund of funds, halted withdrawals. Investors were given 2 choices: 2) Pull their money at a "cost" or 2)Lock up their investment for a period of time with "fees consistent with longer lock-up periods."

Deephaven Capital Management - Knight Capital Group's Deephaven Capital Management halted withdrawals from two of its funds in early November, 2008 for the third quarter.

Diamondback Capital Management - Diamond Capital told investors some of their money would be unavailable for redemption because assets were tied up in Lehman Brothers.

Drake Capital Management - New York based Drake Management halted withdrawals from certain funds in October, 2008.

Ellington Capital Management - Ellington Capital Management, a CT based hedge fund founded in 1994 restricted withdrawals in the middle of 2008.

Fortress Investment Group - Mega hedge fund Fortress Investment Group had $4.5 billion in redemptions in the first three quarters of 2008, totaling more than 10% of the firms assets under management.

GLG Partners - European hedge fund, GLG Partners said it would limit withdrawals from its $3 billion long-short European fund. The hedge fund manages $19 billion overall and previousliy halted redemptions in its emerging markets fund.

Highbridge Capital Management - Highbridge Capital Mamnagement, a hedge fund run by JP Morgan, said in November, 2008 that it would stop redemptions in its Asian Opportunities Fund, which at the time was down 32% on the year.

Pardus Capital Management - The $2 billion fund first notified investors it would halt redemptions in March of 2008. As of that time, the fund was down 40% from its high-water mark.

Platinum Grove Asset Management - Former nobel prize winner, Myron Schole's hedge fund Platinum Grove Asset Management stopped redemptions from its largest fund after losing more than 20% in October 2008 alone.

Tudor Investment Group - In November 2008, Tudor Investment Group announced it would halt redemptions from its DVI Global Fund. Tudor said it would split the fund in two, to create one fund for liquid assets and another for illiquid assets.

Again this is just a partial list of hedge funds that have halted redemptions in 2008. We will keep you updated in the likely event that more funds prevent investors from getting to their money.












2 comments:

Gaurang Desai said...

hi, your blog is pretty good one.

Would you please recommend books, broker and what works for individual investor?

Many thanks in advance

GD

muhlan said...

Absolute Capital Management halted redemptions in 2007 until the end of November 2008. There are no restrictions regarding redemptions anymore. All funds are open again for subscriptions and redemptions.

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