Reuters – Several lenders have taken control of failing hedge fund Peloton Partners’ assets, one day after the fund said it was liquidating one of its portfolios, a person familiar with the situation said on Friday.
Some banks are taking matters into their own hands, while others are being more patient and are cooperating with an orderly liquidation, said the person who was briefed on the matter but who is not authorized to publicly speak about it.
The news comes one day after Peloton, a 3-year-old London-based hedge fund told investors that it had to shut down its ABS Master Fund which returned 87 percent last year.
