Hedge Funds

Refco's fall leaves some funds in limbo


Refco's titanic bankruptcy hurt a number of hedge funds that used the New York-based execution agent as prime broker.

Among them was Moscow-based VR Global Partners, seeking to recoup $380.1 million from Refco. Others were Jim Rogers' Beeland Securities, which was out $72.2 million, and John Henry's JWH Trust that was seeking to recoup $50.6 million. Two other offshore hedge funds, AQR Absolute Return and the Geshoa Fund, each sought to recover $17 million, according to court filings.

But U.S. hedge funds and managed futures traders may have fled Refco's U.S. prime brokerage operation at the first sign