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“Zombie Stock Market” and Zombie Funds

May 2, 2013

USNews: “Beware the ‘Zombie Stock Market’” by Rick Newman, refers to “quantitative easing” and quotes Todd Morley, CEO of the G2 Investment Group:

zombie todd morley g2

“It’s a zombie stock market, pumped up on steroids,” … “I just don’t think it’s a real market anymore.”

And at Reuters: “BUYOUTS-New venture aims at $100 bln ‘zombie’ fund market” by Steve Gelsi:

Merchant bank Kirchner Group and Crestline Investors Inc, a hedge fund secondary buyer with $7.3 billion under management, have teamed up to launch a joint venture aimed at taking over management of so-called zombie funds from their original private equity sponsors. … The universe of U.S. zombie funds – poor-performing private equity funds whose managers have little hope of raising more money – measures about $100 billion in assets… Opportunistic investments include both secondary purchases of LP interests in hedge funds as well as the zombie fund investments. … Among its zombie fund deals, Kirchner Group has taken over management of the renamed Emerald Partners V LP fund.

zombie steve gelsi reuters

From → economics, money

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