alt Hacker NewsHis fund didn’t fold btw. They sold / were forced to sell a position that was several hundred percent up at a very very bad price relative to peak. AFAIK the fund is still up on the year though.
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mbesto • today at 5:41 PM
It did.
It's not part of the strategy or operating agreement of a GP/LP structure to sell a specific fund to another investment firm at a discount. The fund may buy and sell assets to create returns for LPs but selling the fund itself at a discount is not a successful exit, e.g. they folded.
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mrhottakes • today at 4:59 PM
Sounds like a fold to me.
watwut • today at 4:17 PM
That is called folding the fund. It did in fact fold. "My fund would not fold if I made different hypothetical decisions" argument means your fund did in fact fold.
Yes, being unable to pay margin call means your fund is folding.
AIUI they were forced to sell all their positions in public companies at a net loss. The fund is still up for the year only because of a prior investment in Anthropic.