Current news for this fund:
Solent Capital Partners LLP, Mainsail II - MBS, CDOs (SIV-lite)
Count of distinct funds: 1
Update, Sept. 9, 2007: We are moving Mainsail II to "imploded", as per the Marketwatch article and other sources pointing out that the fund is being wound down. The article points out that the $500 million+ in emergency funding provided by Barclay's expired in July, and it wasn't clear if it was extended.
Original post. Mainsail II, a fund under Solent Capital Partners LLP based out of the U.K., has reportedly been forced to sell assets according to a Bloomberg article:
The article goes on to note that Barclays has committed to provide around a half a billion in emergency funding to Mainsail II.
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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.