Current news for this fund:
Galena Street Fund - Subprime
Count of distinct funds: 1
Galena Street Fund, a hedge fund under the Braddock Financial Group that held $300 million in assets, is set to be liquidated after realizing significant losses on subprime investments. On July 6th latimes.com noted:
The New York Post noted that as of June 30 nearly 60% of Galena's investors had requested redemptions. Further, due to Galena not using any leverage, the liquidation is not forced.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.