Came across this article (linked below) this morning and found it interesting. Not in PE, so I don’t know why this happened from an “under the hood” perspective, but high level looks like this was a risky fund that faced volatile market conditions. Anyone have insights as to why this may have happened and are there any implications for other similar strategy funds?
(Sorry plugging article from my phone)
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Article reads that they lost AuM ie; withdrawals rather than losing 90% from investment losses.
Obviously some investment losses are baked in to cause the drop but its not like the fund went from $100 NAV / unit to $10 NAV / unit.
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