Peloton starts liquidating ABS fund

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As reported in a EuroHedge newsflash yesterday, Peloton Partners, the London and California-based hedge fund group headed by Ron Beller and Geoff Grant, has decided to liquidate its hitherto high-performing Peloton ABS credit fund and is suspending the calculation of its net asset value, according to a letter that went out to investors today.

“Credit providers have been severely tightening terms without regard to the creditworthiness or track record of individual firms, which has compounded our difficulties and made it impossible to meet margin calls,” said Peloton co-founders Ron Beller and Geoff Grant in a letter sent to clients