Prior to that she was Head of Liquid Investments Risk at Citi.Her experiences include risk managing multi-billion dollar institutional hedge fund platform and fund investments, corporate pension plans, liquid alternatives, bank-owned life insurance policies and structured investment vehicles.SAC Capital Advisors, the hedge fund formerly run by Steven Cohen, was ordered to shut down in November 2013, after pleading guilty to not stopping insider trading at the firm.But, more than two years later, SAC is having trouble winding down its business because of its difficulty in distributing proceeds from hard-to-sell assets to outside investors. When SAC’s lawyers asked the SEC in October for the wind-up extension, the fund’s single largest so-called side pocket investment (more on that below), approximately 78% by value, was an investment in a privately held operating company that’s had trouble launching an initial public offering. (BRAIN) — Vestis Retail Group, the owner of Sport Chalet, Eastern Mountain Sports and Bob’s Stores, filed a petition for Chapter 11 bankruptcy protection in Delaware on Monday, saying it has liabilities of more than 0 million.Vestis hopes to separate Sport Chalet from the other two chains, and sell EMS and Bob’s to funds advised by Versa Capital Management.
In this role he is responsible for manager research and due diligence for strategies focused on marketable investments. Abrams also provides analytical support for the asset allocation of WARF’s investment portfolio.
The lengthy period SAC has taken to sell off assets draws attention to what are called side pockets, which are hard-to-sell investments segregated in accounts.
Capital invested for that asset is typically not available for withdrawal until the investment matures or becomes more marketable, for example when a private company goes public.
Hedge fund Diamondback Capital Management LLC told investors Thursday that it plans to close and wind down its funds after receiving redemptions requests totaling more than a quarter of its assets.
In a letter to investors Thursday, the Stamford, Conn., hedge fund's founders Richard Schimel and Larry Sapanski said they received redemption requests for Dec.