Stone Lion Fund Targets Bankruptcy Plays

Hedge Fund Alert – The New York firm held a single close for its SL Liquidation Fund on June 3 with $445 million — continuing a growth streak that started with the creation of at least one separate account sharing the vehicle’s strategy some months ago.

Indeed, Stone Lion’s net assets now stand at $1.4 billion, up from $810 million at yearend 2012. In a second-quarter letter to investors dated July 19, the shop attributed the size of the new fund to strong interest from both new and existing backers — including foundations and pension systems.

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