Facebook Slams IPO Door, Zombie Hedge Funds, Activist Investors Get Bold, Can't Lose Investments, and More

The destruction of the IPO market by Facebook's botched public offering, the haunting of zombie hedge funds and Wall Street's struggles to attract new IT talent are just a few of the topics people on the Street were discussing this week.
June 08, 2012

3. Zombie Hedge Funds

At the worst of the market turmoil in late 2008, an estimated $175 billion of capital was locked up in illiquid hedge funds, according to Hedge Fund Review. It is estimated that some $50 billion to $60 billion remains locked up in zombie funds, out of the reach of investors.

—Jay Eisenhofer and Matthew P. Morris, partners with the shareholder rights law firm Grant & Eisenhofer, in an editorial about insolvent hedge funds, titled "Hedge Funds of the Living Dead."

Source: New York Times Dealbook

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