Third Avenue Blocks Redemptions From Credit Fund Amid Losses

Martin Whitman’s Third Avenue Management put some of the assets in the Third Avenue Focused Credit Fund in a liquidating trust that will seek to sell them over time, the New York-based firm said in a statement on its website dated Dec. 9.

… Last week, Meridee Moore told clients she was returning money in her $1 billion hedge-fund firm Watershed Asset Management, citing the difficulty finding good investments in distressed companies.

via Bloomberg, 日経

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