| Peloton Partners LLP, a London-based hedge fund that formerly held nearly $3 billion in assets, is liquidating its two funds and shutting down, the firm told investors on Wednesday, according to two people familiar with the situation.span id=midArticle_byline/spanspan id=midArticle_0/spanpPeloton last week told investors that it was liquidating its $2 billion ABS Fund after lender banks pulled back on credit. It held out hopes that it could salvage its second fund, the $1.6 billion Multi-Strategy Fund, even though some 40 percent of that fund's assets were invested in the ABS Fund./pspan id=midArticle_1/spanpToday, however, the fund told investors that the Multi-Strategy Fund is being liquidated in coming days, with the proceeds returned to investors, the source said./pspan id=midArticle_2/spanpIt is unclear at this point what proceeds, if any, investors will get from the liquidation of the two funds, the company told investors./p |
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