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Side pockets were widely used by hedge funds during the financial crisis of 2007–2008 amidst a flood of withdrawal requests. Side pockets allowed fund managers to lay away illiquid securities until market liquidity improved, a move that could reduce losses.
So-called "side pockets", used by hedge funds in the global financial crisis, but previously not allowed for mainstream European funds, separate out illiquid often risky assets so main funds can ...
On March 1, 2011, the Securities and Exchange Commission (SEC) alleged that Goldfarb and his company illegally diverted $12 million from a hedge fund side pocket investment to other entities he controlled. [18] On March 1, 2011, without admitting or denying the allegations, Goldfarb settled with the SEC. [19]
In October 2010, the SEC charged two hedge fund portfolio managers and their investment advisory businesses, Palisades Asset Management, LLC with overvaluing illiquid fund assets they placed in a "side pocket," misappropriating investor assets, and making material misrepresentations in connection with a securities offering. [21]
Billions of taxpayer dollars that the U.S. government gave to AIG (AIG) to prop up the insurer could end up in the pockets of hedge funds that bet on a falling U.S. housing market, according to a ...
The firm, which is one of the largest hedge funds in the world, was founded in 1989 and since then has lost money in just a single year — 2008, when a financial crisis turned into a sharp ...
Growth in the secondary market continued trending upward in 2013 reaching its highest level yet, with an estimated total transaction volume of $36bn per the Setter Capital Volume Report 2013, as follows: private equity $28 billion, real estate secondaries $5.1 billion, hedge fund side pockets $1.6 billion, infrastructure funding $0.7 billion ...
The investment bank isn’t alone in coming to this conclusion. ... what was for many years the world’s biggest hedge fund, ... in a $129 trillion wealth transfer into the pockets of those ...