Restructuring in progress for Finisterre Capital’s Special Situations Fund
|May 17th, 2010||
|Hedge fund manager Finisterre Capital will reorganize its Special Situations Fund, which henceforth will be called the Finisterre Credit Fund. According to the Financial Times, at the request of its biggest client the New York State Common Retirement Fund, which has approximately $250 million invested in the firm, the new focus will be on more liquid, emerging market, corporate bonds. |
This reveals a marked shift away from off-exchange investments. Clients will also be allowed to withdraw their money more frequently. Finisterre’s Special Situations Fund was one of the top performers of 2009, posting a 45.3% return.
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