Polygon Investments | Hedge Fund NotesSee below for the Hedge Fund Tracker notes on Polygon Investments:
Resource #1: Polygon Investment Management is a global fund management company whose goal is to provide customized investment solutions for individual investors and smaller institutions. We believe that smaller is better in fund management and do not seek to be the largest firm, but the firm that adds the most value per unit of risk.
Polygon's investment process is driven by asset allocation and geographic diversification in order to achieve the optimal combination of risk and reward. We believe diversification is the most efficient way of controlling risk and employ a core satellite approach to create a liquid, low volatility combination of stocks, bonds and alternative strategies. source
Resource #2: Polygon Investment Partners‘ chief investment officer, Alexander Jackson, is the latest casualty of the ongoing credit crunch.
The New York Post reported that the credit and bond strategies manager is stepping down with Reade Griffith, who runs event-driven strategies, remaining the fund firm’s sole C.I.O.
London-based Polygon is removing Mr. Jackson of his power to make investment decisions amid a flurry of redemption requests by spooked investors who have pushed assets under management down to $6 billion from a recent high of $8 billion, The Post said. source
Resource #3: The battle over the future of British Energy reached new levels of bitterness last night when the nuclear generator applied for an injunction against rebel shareholders in a US court. The power company wants a judge in the southern district of New York to rule that Polygon cannot force through its demands for an extraordinary general meeting and vote on an alternative rescue plan.
BE accused Polygon - a London and New York-based hedge fund - of engaging in a "manipulative and misleading" scheme to acquire BE shares without making appropriate disclosures to the securities and exchange commission. source
Resource #4: Jackson previously worked for 10 years at Highbridge Capital Management LLC, where he ran its European operations. He started Polygon in 2002 with Reade Griffith, 43, formerly of Chicago-based Citadel Investment Group LLC, and Paddy Dear, 46, formerly of UBS AG of Zurich. Griffith will become sole chief investment officer, according to investors, who asked not to be identified because Polygon hasn't publicly disclosed the information. source
Resource #5: Polygon Investment Partners LLP ("Polygon") announces today that in light of British Energy plc's (BGY) recent shareholder circulars, including with regard to the Company's intention to delist and sell its assets, Polygon has agreed to vote the Ordinary Shares of British Energy owned by it against the proposed resolutions at the requisitioned Extraordinary General Meeting and not to further oppose the restructuring. The Bondholders and British Energy have agreed to stop all outstanding legal actions against Polygon. source
Resource #6: London Diversified Fund, one of the largest hedge funds in London, has temporarily suspended redemptions, Financial News reports.
It declined to elaborate on the decision to impose restrictions, but said it would seek to remove the suspension as soon as possible.
London Diversified had about $4.1 billion in the middle of the year, but its portfolio had lost 13.2% of its investments by August end. The firm joins peers Polygon Investment Management, GLG Partners and RAB Capital in limiting redemptions. source
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