York Plans to Shutter $2 Billion Credit Fund Amid Withdrawals
- ‘Substantial redemption requests’ have come in, firm says
- York will begin returning capital to investors in January
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Jamie Dinan’s York Capital Management is shuttering its main credit hedge fund following poor performance.
York is suspending redemptions from its Credit Opportunities fund as of year-end as the firm struggles to meet withdrawals, according to a person with knowledge of the matter. The fund, which oversees almost $2 billion, has lost about 8% this year. It has had an annualized return of 11.9% since its February 2001 inception.