Hedge Funds Hold Investors ‘Hostage’ After Decade’s Best Year
Wednesday, January 20, 2010 : PermalinkBusinessWeek – Hedge funds’ best year in a decade is giving little comfort to Jason D. Papastavrou.
The founder of New York-based ARIS Capital Management LLC, which has about $250 million invested in hedge funds, is still waiting to get back $155 million from 22 managers that restricted withdrawals in 2008.
“We don’t object to the illiquidity,” Papastavrou said in an interview. “We object to how some managers are abusing the situation and holding investors’ money hostage to generate fees.”
