The firm is selling its illiquid investments, including a small stake in Facebook.
Shumway Capital Partners notified investors today that it will return their capital in cash by the end of March. Despite telling investors earlier this month of his decision to return outside capital, Chris Shumway did not let them know when or how their investments would be redeemed, fearing that competitors could profit from this information.
The announcement should alleviate concerns that the firm’s long-term private investments could have been locked up for an extended period of time. Those investments include an $8 million stake in Facebook.
Investors are also evaluating potential spinouts from Shumway. Chris Shumway is preparing a seeding