Forbes – More than three years have passed since the credit crisis sparked nasty redemption battles between hedge funds and their investors—but some of these fights remarkably continue to pop up. The latest example involves a Redwood City, Calif., fund of funds that wants its $45 million investment in Medley Capital back.
Medley Capital, a $1.4 billion hedge fund firm and investment management shop, has had a tumultuous run pretty much since it was founded in 2005. Its Medley Opportunity Fund was originally conceived by the late Richard Medley, once George Soros’ chief political advisor, partly as an asset-based lender that would have a positive impact on the world by investing with socially-motivated groups like non-governmental organizations, non-profit organizations and government policy makers.
