Odey’s Shrinking Hedge Fund Exposes a Pile of Illiquid Assets (Bloomberg)
Crispin Odey’s long decline is exposing a new risk for the investors who are left: as his troubled money pool gets smaller, a larger slice is in hard-to-sell holdings. After a flood of redemptions and losses, the share of unquoted securities in his main fund jumped to almost 25% of its long equity holdings as of January, according to an investor document seen by Bloomberg. That’s up from 16% in November when Odey started disclosing the figures.
Crispin Odey’s long decline is exposing a new risk for the investors who are left: as his troubled money pool gets smaller, a larger slice is in hard-to-sell holdings. After a flood of redemptions and losses, the share of unquoted securities in his main fund jumped to almost 25% of its long equity holdings as of January, according to an investor document seen by Bloomberg. That’s up from 16% in November when Odey started disclosing the figures.