2009-02-12 — ft.com
Holdings in some of the biggest-name hedge funds are for sale at hefty discounts to their assets, after restrictions on withdrawals left many clients unable to raise the cash they want by redeeming.
Multi-million dollar stakes in Citadel's flagship Kensington fund, Harbinger Capital's flagship and the Children's Investment Fund are being hawked by investors on a new online trading facility set up by Cogent Alternative Strategies, a US hedge fund sales group.
...
On Hedgebay, discounts have soared, with the average now at about 14 per cent, from zero a year ago.
You know what they say -- necessity is the mother of invention!
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