U.K. asset manager, BlueCrest, is liquidating its Specialty Asset Finance Fund, Reuters reports. The fund, which had $200 million worth of assets in 2008, is an asset-based lending (ABL) hedge fund.
Losses and requests for redemptions forced the fund to shut many positions at a major loss. Funds using the ABL policy have had redemption requests for about 80% of their assets.
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This article was originally published in Alternative Investment News.
