{"id":50588,"date":"2015-11-11T08:57:46","date_gmt":"2015-11-11T13:57:46","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=50588"},"modified":"2015-11-11T08:57:46","modified_gmt":"2015-11-11T13:57:46","slug":"avenue-capital-closing-original-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2015\/avenue-capital-closing-original-fund.html","title":{"rendered":"Avenue Capital Closing Original Fund"},"content":{"rendered":"<p>New York (HedgeCo.net) \u2013 Avenue Capital Group is one of the preeminent investment firms in the distressed investing space and in a sad, symbolic gesture, the firm announced that it will be closing its original hedge fund, Avenue Investments. The firm cited negative performance and a shift in focus toward longer-term lockup periods for investors.<\/p>\n<p>With the firm focusing on the distressed investment space, a longer-term lockup is in line with the industry standards. A report from CNBC included a statement from Avenue Capital: &#8220;Avenue has determined to wind down its U.S. hedge fund,&#8221; said a spokesman for the company in an emailed statement. He noted that the vast majority of Avenue&#8217;s capital in the distressed investment space is in long-term investment vehicles with lockup provisions ranging in duration from five to seven years, adding that &#8220;the longer-term lockup structure represents the principal direction of the firm.&#8221;<\/p>\n<p>The Avenue Investments fund represents less than three percent of the total assets managed by Avenue Capital, so the closing of the fund isn\u2019t a move that will hurt the firm\u2019s numbers, but it is more a sign of the changing environment in the hedge fund world.<\/p>\n<p>Rick Pendergraft<br \/>\nResearch Analyst<br \/>\nHedgeCoVest<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) \u2013 Avenue Capital Group is one of the preeminent investment firms in the distressed investing space and in a sad, symbolic gesture, the firm announced that it will be closing its original hedge fund, Avenue Investments. The [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-50588","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=50588"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50588\/revisions"}],"predecessor-version":[{"id":50589,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50588\/revisions\/50589"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=50588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=50588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=50588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}