Hedge Funds

GoldenTree returns $1.2 billion to investors

by

New York-based GoldenTree Asset Management is retuning $1.2 billion to investors as the firm exits from the long-only separate account business. The firm's investment chief, Steven Tananbaum, said the decision was linked to a market environment in which a sustained lack of volatility has hurt opportunities for adding alpha for such portfolios.

Prior to its decision to return $1.2 billion, GoldenTree had $6.5 billion under management, across a number of investment strategies and arenas such as bank loans, high yield, distressed, middle market, mezzanine and real estate. Returning a portion of investor capital will allow GoldenTree to focus on