Monday, July 2, 2007

United Capital's Devaney Halts Redemptions on Some Subprime Hedge Funds

(Bloomberg) -- United Capital Markets Holdings Inc.,
a brokerage run by John Devaney, halted redemptions on some of
its hedge funds that invest in subprime-mortgage bonds.

The funds are within the company's Horizon Strategy group,
including the Horizon ABS Fund LP, said Michael Gregory, a
spokesman for the Key Biscayne, Florida-based firm.


Read more at Bloomberg Bonds News

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