Structured credit fallout continues with losses at GLG

New Angles

pg13-feldstein-gif

The first high-profile hedge fund casualty of the recent turmoil in the structured credit market emerged last month. In a private letter to investors, London-based GLG Partners, one of Europe's largest hedge fund managers, effectively blamed a 14.5% drop in its Credit Fund in May on losses made in the structured credit market.

"A 14.5% loss is not ideal," says one source close to the firm. "There will probably be some redemptions, but GLG has exited the [problematic] positions and th

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: