{"id":8072,"date":"2008-07-10T00:00:00","date_gmt":"2008-07-10T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"devaneys-funds-wiped-out-after-united-capital-gets-margin-call","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2008\/devaneys-funds-wiped-out-after-united-capital-gets-margin-call.html","title":{"rendered":"Devaney&#8217;s Funds Wiped Out After United Capital Gets Margin Call"},"content":{"rendered":"<p>Bloomberg- John Devaney is liquidating hedge funds at his United Capital Markets Holdings Inc. after failing to meet a margin call from Deutsche Bank AG. <\/p>\n<p>Deutsche Bank seized and auctioned off collateral after the Horizon group of funds failed to meet the bank&#8217;s demands, according to a letter to clients obtained by Bloomberg News yesterday. The funds were frozen a year ago because of wrong-way bets on mortgage securities. <\/p>\n<p>&#8220;The survival of the funds and any potential recovery for their investors has been dependent on these lenders continuing their relationships with the funds,&#8221; Devaney wrote in the letter dated July 9. United Capital is based in Key Biscayne, Florida. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news%3Fpid%3D20601103%26sid%3DaI94mfIpm4i8%26refer%3Dus\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg- John Devaney is liquidating hedge funds at his United Capital Markets Holdings Inc. after failing to meet a margin call from Deutsche Bank AG. Deutsche Bank seized and auctioned off collateral after the Horizon group of funds failed to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1395,1161,546,1391,502,1015,1392,402,1389,83,1393,1388,1394,1390],"class_list":["post-8072","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-30m","tag-administrative-services","tag-bias","tag-collateralized-debt-obligations","tag-expectation","tag-extra-security","tag-gulfstream-iv","tag-investment-firm","tag-key-biscayne-florida","tag-medallion","tag-municipal-bond-market","tag-pacific-investment-management-co","tag-top-managers","tag-united-capital-markets"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8072","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8072"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8072\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}