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Lucidus Shutters $900 Credit Funds Citing Redemption Pressure

by valuewalk.com posted 3years ago 5987 views
According to a statement from Lucidus Capital Partners, the fund has exited all investments. The high-yield credit fund has liquidated its entire portfolio and plans to return the $900 million it has under management to investors next month. Activist investor Carl Icahn told CNBC last Friday: “The high-yield market is just a keg of dynamite that sooner or later will blow up”. Renewing his warnings about the high-yield debt market, he criticized a perceived lack of liquidity in junk bond funds. Interestingly, hours after Icahn’s comments, the Wall Street Journal reported that hedge fund Stone Lion would block redemptions from a...