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Third Avenue Weighs Sale Of High-Yield Fund That Halted Redemptions In December
FYI: (Click On Article Title At Top Of Google Search) Third Avenue Management LLC is exploring a sale of its high-yield mutual fund, whose meltdown helped fuel a selloff in the junk-bond market late last year.
The New York firm tapped investment bank Houlihan Lokey Inc. to shop its Third Avenue Focused Credit Fund, which had assets of $592 million as of June 30, according to people familiar with the matter. Proceeds from a sale would go to the fund’s investors, who lost the ability to withdraw money when the firm halted redemptions in December. Regards, Ted https://www.google.com/#q=Third+Avenue+Weighs+Sale+of+High-Yield+Fund+That+Halted+Redemptions+in+December+wsj
