Politics & Regulation

MFA urges UK authorities to expedite release of client assets from Lehman


The Managed Funds Association has asked the Bank of England to help hasten the release of billions of dollars of hedge fund assets that were frozen following the bankruptcy of Lehman Brothers International Europe (LBIE).

In a five-page letter, the U.S. hedge fund lobbying group said it was “extremely concerned” that the administrator for LBIE – PricewaterhouseCoopers (which is not named in the letter) – is setting out on a course that could damage both the alternative investment industry and, more broadly, the global capital markets.

“Several firms with significant exposure to LBIE are on the brink of failure and