Fri, Sep 25, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Magnum announces hedge funds liquidations: Jericho, MG Secured Debt, TM IndiaStar

Friday, June 29, 2012

Benedicte Gravrand, Opalesque Geneva:

According to Magnum U.S. Investments, Inc, a fund of hedge funds manager and hedge fund sponsor, Jericho Tax Lien Offshore Investments Ltd and Jericho 2010 Tax Lien Fund LP have returned capital to investors and are no longer reporting prices to database companies. The funds were self liquidating.

Jericho 2010 Tax Lien Master Fund, L.P., launched in March 2010, is based in Florida and managed by the General Partner (itself 100% owned by Scott Svirsky and Glenn Chwatt). Autumn Capital Partners LLP are advisors and Magnum provides Jericho with consulting services, back office support and marketing assistance.

Tax Lien Certificates are secured debt investments in US property tax receivables that rank senior to a first mortgage and carry a typical loan-to-value ratio of less than 5%. The funds were started on the belief there was great potential for generating returns by purchasing tax liens. The fund's DD form confirms: "As a result of the self-liquidating nature of the Fund, there will be no redemptions."

Furthermore, Jericho All-Weather Opportunity Fund LP and MG Secured Debt Fund have suspended calculation of their NAV and no longer report to the database companies, says Magnum in an e-mailed statement received by Opalesque yeterday.

The MG Secured Debt Fund, launched in 2006, is a Bahamas-based low volatility b......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Tech stocks aren't in a bubble, but investors should be pickier, Credit Suisse says, Pandora tops world's best-performing market as hedge funds exit, What Bill Ackman is investing in now[more]

    Tech stocks aren't in a bubble, but investors should be pickier, Credit Suisse says From Business Insider: Credit Suisse on Thursday trimmed its overweight rating for tech stocks, recommending investors be more selective with their sector picks. Crowding in tech giants and the stocks&#

  2. Investing: Third Point buys stakes in Facebook, Alibaba in Q2, exits Sony, Allergan, Here's what investors with $3.4tn are buying during covid, An energy trader seeks profit from batteries in European markets, Hedge fund ARCM to sell $200m of Premier Oil debt[more]

    Third Point buys stakes in Facebook, Alibaba in Q2, exits Sony, Allergan Third Point LLC acquired new stakes in Facebook Inc. and Chinese e-commerce companies Alibaba Group Holding Ltd. and JD.com Inc. during the second quarter of 2020 as it divested positions in Sony Corp. and drugmaker

  3. PE/VC: Investors have bet big that you can get private equity returns in the public markets. A new study says otherwise, Aberdeen's Bonaccord teams up with CAZ to buy stakes in private markets managers, The role of private equity in economic recovery from Covid-19[more]

    Investors have bet big that you can get private equity returns in the public markets. A new study says otherwise From Institutional Investor: New research suggests private-equity-owned firms respond differently to financial distress - and that the resulting performance "cannot be replicat

  4. Opalesque TV: Meet a Swiss fund manager who hedges with a difference[more]

    B. G., Opalesque Geneva: There is a quant manager in Zurich that does things a little differently, which has helped a lot so far this year. ICON Asset Management, which was mentioned in the

  5. Franklin Templeton creates new unit with QS Investors[more]

    Laxman Pai, Opalesque Asia: Franklin Templeton will combine recently acquired QS Investors, a Legg Mason subsidiary, with Franklin Templeton Multiasset Solutions (FTMAS) business into a single consolidated unit. Effective Oct. 1, the combined business, called Franklin Templeton Investment Sol