Sandelman Partners Restructures
| July 10th, 2008 | ||
| Sandelman Partners, a New York based hedge fund, has told investors in its biggest fund, the Sandelman Partners Multi-Strategy Fund, that they cannot get their money back immediately. In current market conditions, investors are becoming more and more reluctant to tie up their capital in low liquidity investments such as hedge funds. Sandelman's board said last week that 22% of the fund will be under the control of the fund. For the rest of the fund, investors will be given a choice between a new Sandelman fund and a liquidation fund that will pay out cash over time. The new fund will be called the Sandelman Partners Opportunity Fund. The Sandelman Multi-Strategy Fund was down 5% by the end of June, and lost less than 2% in 2007. | ||
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Sandelman Partners |
Related People: Ben Esty*;
Related Entities: Sandelman Partners Event-Driven;
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Launches and Hedge Fund Closings
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