Wednesday, August 19, 2015

Pensions Exiting Claren Road

Texas and California pension funds have or will redeem their investment in The Carlyle Group's Claren Road hedge fund, according to Pensions&Investments.  North Carolina and Illinois pensions are closely monitoring the situation for possible withdrawals.

SeekingAlpha reported "Carlyle will write off up to $175M of the remaining $216M value of Claren Road still on its books.  The fund's managers are hearing from exiting investors and are in the process of deciding on a future path, including maybe shutting the doors."  Claren Road may be one crowded exit