Platinum Partners Plans To Pay Investors All But $1.17 Billion Of The $1.25 Billion They're Owed

What a deal!
Rob Lavinsky, – CC-BY-SA-3.0 [CC BY-SA 3.0], via Wikimedia Commons

via Wikimedia Commons

But that's just in the near-term. In the long-term, which could be anywhere from a year to 100 million years from now, investors will get every single one of their pennies back from the besieged hedge fund.

Hedge fund Platinum Partners plans to pay back around $80 million to investors in the coming months, less than 10% of what the firm owes in total, according to people familiar with the matter. Platinum, whose practices are the subject of a federal investigation, as of this summer said it had $1.25 billion under management. Its executives, as recently as this month, continued to tell investors they hope to return the entirety of that sum over time, though they haven’t said exactly when they will do so.

Hedge Fund Platinum Partners to Pay Back Fraction of What Firm Owes [WSJ]