Hedge Fund Greylock Files for Bankruptcy After Withdrawals
- Hedge fund plans to lower costs, restructure its debt
- Greylock is known for investing in troubled sovereign debt
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Greylock Capital Associates filed for bankruptcy protection in New York as investors pulled money from the hedge fund following three consecutive years of losses.
The Chapter 11 proceedings will allow Greylock to restructure its debt and terminate its Madison Avenue office lease in Manhattan, according to a Jan. 31 filing signed by Chief Financial Officer David Steltzer.