Carlyle-owned fund refuses to refund near 2/3 of amount requested by investors

Interesting to see that one of the great companies is struggling right now. Anyone know anybody at Claren Road AM?

From WSJ (link inside the post):

A struggling hedge-fund firm owned by Carlyle Group LP won’t immediately pay back about two-thirds of the nearly $2 billion that investors recently asked to withdraw, according to people familiar with the matter.

Claren Road Asset Management LLC plans to return about $650 million by the regular October payout date for redemption requests made in the third quarter, people familiar with the firm said. The firm intends to hand back the remaining $1.3 billion of exiting investors’ funds over the next several quarters, the people said, but hasn’t provided a date for the full return.

http://www.wsj.com/articles/carlyle-owned-hedge-fund-firm-hands-investo…

 

It seems like a lot of these renown fundamental funds are getting killed lately. Of course, there are many who continue to do well, but there seems to be huge troubles across the board for these guys.

 

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