(HedgeCo.Net) A tremor is moving through the private credit ecosystem. Stone Ridge Asset Management has announced that it will fulfill only 11% of investor redemption requests for its Alternative Lending Risk Premium Fund (LENDX), a vehicle heavily exposed to Buy Now, Pay Later (BNPL) and fintech-originated consumer loans.
While the move is not unprecedented, its timing—and the structure of the underlying assets—has captured the attention of institutional investors, hedge funds, and regulator...
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