As requests to withdraw capital continue to multiply,
managers are putting up gates, suspending redemptions and
finding other creative ways to try to keep investors from
leaving. The moves come just ahead of the end of the second
quarter, as hedge funds reel from poor performance and
difficult market conditions across the board.
Prentice Capital Management, the $1.5 billion hedge fund
shop whose side pocket is full of illiquid investments,
announced in a June 6 letter to investors that it was
suspending redemptions and the calculation of net asset...