For Shrinking Greylock Hedge Fund, $100,000-a-Month Rent Proved Too Much
- The hedge fund filed for bankruptcy to end lease in Manhattan
- Greylock was active in deals in emerging markets like Greece
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Argentina, Mozambique, Barbados and the Republic of Congo have two things in common: They’ve all restructured their debt, and they’ve all tangled with Greylock Capital Management.
Now Greylock, one of the best-known hedge funds in emerging markets investing, finds itself at a similar crossroads. Some 25 years after its founding, the firm -- its assets headed to a mere $350 million or so by the end of March -- on Sunday filed for bankruptcy protection in New York. The firm is seeking to end its lease in midtown Manhattan after investors pulled their money following three years of losses, most recently stemming from the pandemic.