Bloomberg – RAB Capital Plc founders Philip Richards and Michael Alen-Buckley will invest $30 million of their own money in the company’s biggest hedge fund so it doesn’t have to separate illiquid assets from other holdings.
The investment increases the founders’ total allocation to the RAB Special Situations Fund to $40 million, the London-based company said in a statement today. The investment means the fund’s board of directors won’t have to move hard-to-sell holdings into a so-called side pocket, an account hedge funds use to separate assets. Clients typically can’t get their money back from such accounts until investments are sold.
