{"id":8412,"date":"2008-08-20T00:00:00","date_gmt":"2008-08-20T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-art-of-a-bankruptcy","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2008\/hedge-funds-art-of-a-bankruptcy.html","title":{"rendered":"Hedge Fund&#8217;s Art of a Bankruptcy"},"content":{"rendered":"<p>CFO.com &#8211; Even hedge funds are not immune to the credit crunch. A small hedge fund that provided short-term debt to companies has filed for Chapter 11 bankruptcy protection.<\/p>\n<p>Greenwich, Connecticut-based SageCrest Finance, managed by Windmill Management, said in its Chapter 11 petition filed in U.S. bankruptcy court that it had listed assets of $50 million to $100 million, and debt between $1 million and $10 million, reported Reuters. The fund had about $1 billion in assets under management as recently as a year ago, according to hedgefund.net.<\/p>\n<p>In fact, the website points out that the credit crunch put the squeeze on SageCrest&#8217;s business strategy &mdash; which is providing asset-backed specialty financing to smaller private companies that have been closed out of traditional sources of capital. Many of its projects involved extending art-, real estate-, and structured settlement-based loans. <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.cfo.com\/article.cfm\/11955717\/c_11957745?f=home_todayinfinance\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CFO.com &#8211; Even hedge funds are not immune to the credit crunch. A small hedge fund that provided short-term debt to companies has filed for Chapter 11 bankruptcy protection. Greenwich, Connecticut-based SageCrest Finance, managed by Windmill Management, said in its [&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":[1101,87,1249,2232,68,1965,803,309,2228,2231,117,2247,55,2218,855,951],"class_list":["post-8412","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-adverse-effect","tag-angela-merkel","tag-asset-allocation-fund","tag-assurances","tag-cnet","tag-devonshire","tag-external-managers","tag-farmland","tag-fn","tag-hsbc","tag-investment-arm","tag-nyt","tag-sers","tag-stalking-horse-bidder","tag-wrong-way","tag-zukin"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8412","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=8412"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8412\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}