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Posted on: March 29, 2016, 4:05 p.m.
Instead of returning all exiting clients' assets in cash, investors will receive 88 percent of their money back while 12 percent of the investments will be held in a so-called special purpose vehicle, Luxor's founder, Christian Leone, wrote in a letter seen by Reuters. The announcement comes before a critical March 31 redemption deadline and aims to treat all investors "fairly," the letter said. "For those investors in the Fund that have submitted withdrawal requests for March 31, 2016 and ... Full investment news article