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Thursday, November 01, 2012

Hedge Fund Side-Pocket Liquidator Hired By Bank | FINalternatives

 

Hedge Fund Side-Pocket Liquidator Hired By Bank | FINalternatives

 Hedge Fund Side-Pocket Liquidator Hired By Bank
Until now, Multiplicty has worked primarily for institutional investors, private banks and funds of hedge funds. All told, it has wound down US$2 billion in assets, one-fifth of which were illiquid.
"The big elephant in the room that has not been addressed is that banks are holding large portfolios of illiquid assets," Multiplicity partner Andres Hefti told FN. "Although banks are reluctant to mark down the value of these positions, one day they will realize that they can no longer justify the value with their auditors, who need to independently verify them."


Dollar on the table says that $2 bill was Housing related assets.

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