Report: Fir Tree to Return Credit Opportunity Fund Capital to Investors

Hedge fund Fir Tree Partners is said to be returning external cash to investors in its credit opportunity fund after 30 years, according to a report by Bloomberg.

In a letter sent to investors, the New York-based hedge fund said it will return 95% of the external capital in the fund by early March, excluding the PAMLI Global Credit Convexity business which is expected to be transferred to another investment manager where it will continue its operations. The remainder will be returned following a final audit.

Fir Tree said in the letter that its credit opportunity fund posted a net gain of approximately 17% in 2024 from 13% in 2023. Per Dakota data, the hedge fund manager’s investors include pensions, foundations, and university endowments, including Mass PRIM, the New York Fire and Police pensions, The Bush Foundation, Knight Foundation, John Templeton Foundation, Carnegie Corporation of New York, the University of Kentucky Endowment, and Rutgers University Endowment.

Written By: Dakota

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