$7bln NIR Group aims for stronger capital base through fund restructuring...

Opalesque New York: Opalesque had the opportunity to speak with Corey Ribotsky, Managing Member and Head Portfolio Manager at NIR Group about both the launch of the firm's Haverstock Fund as well as give the team the chance to address the media reports of this week which have inaccurately described investor redemptions at the firm.

Two themes which thread through almost every news story we see about the hedge fund industry are "cash is king" and "opportunity abounds". The $7bln NIR Group is one example of the way funds have had to react during the current market turmoil and address both the liquidity needs which are resenting opportunity at the investment end, but decreasing assets at the investor end.

Restructuring to address liquidity needs of investors
NIR Group told Opalesque that reports of redemptions from the AJW Family of Funds have been mischaracterized.

The Funds, which have returned +8% YTD are asset based lending strategies and the management team, looking to secure committed capital has made the decision to balance an increased lockup period (3 years or quarterly with 90 days notice) with a decrease in fees (from 2%/20% to 1%/15%).

NIR confirmed that there have been a small number of redemptions by investors seeking to meet their own liquidity concerns.

NIR also confirmed that AJW's decade old redemption schedule has been altered to reflect the new liquidity constraints of the current market environment. It has always been the firm's policy to limit each allocation in size to a very small ......................

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$7bln NIR Group aims for stronger capital base through fund restructuring...