Chicago Sun-Times- After experiencing a 21st century, hedge-fund version of a run on the bank this week, Sentinel Management Group assured clients that it’s looking to give them their money back byselling assets.
“Sentinel is in the process of discussing a sale or sales of securities to a prospective buyer(s) which could provide liquidity for further redemptions,” the Northbrook cash manager wrote in a letter to clients. “Sentinel is also exploring its ability to sell securities at commercially reasonable market rates.”
But Sentinel’s moves so far haven’t pleased all customers, which include small futures brokers and hedge funds, according to Jeff Barclay, a lawyer who represents some Sentinel clients.
