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Liquidation model similar to hedge fund side pockets

Pensions & Investments – Zombie fund restructurings are similar to coordinated liquidations of hedge fund side pockets, said Peter McGrath, president of Toronto-based Setter Capital Inc., an alternatives investment firm that invests on the secondary market.

In both cases, investors had been left with illiquid investments and little hope of cashing out. But hedge fund managers and investors in side pocket vehicles are ahead of zombie fund investors in finding ways to redeem their investments, industry insiders say. Zombie fund restructurings are just starting, borrowing some strategies from the hedge fund side pocket liquidation playbook.

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