Apparently, the stigma associated with closing redemption gates is quickly disappearing.  As Thomson reports,

Blocking investors’ exits, even if only briefly, was once a highly unusual move that often signaled a hedge fund was on the verge of collapse, managers and investors acknowledged…That is changing now as ever-more managers and investors engage in a tug of war over who can receive money right now.”

Wealth Bulletin cites 6 hedge fund managers that have suspended redemptions and several that have offered “sweeteners” for investors to stick around.  The list of new gates includes: Centaurus Capital, Polygon Investment Partners (old news), Gottex Fund Management, Wermuth Asset Management, Auriel, and Atlantis Investment Management.  According to the publication, favorable fee sweeteners have been offered in exchange for locking-in capital at: RAB Capital, Ramius Capital, BlueBay Asset Management and Henderson Global Investors.

The Times reports on an interesting twist.  RAB Capital, says the paper, is offering a form of IOU to investors that promises to pay them out as soon as the firm can sell the requisite securities (not, we assume, at some later redemption date).

The ground isn’t the only thing being frozen in Minnesota this fall.  Investment News reports that Deephaven, the $1.6 billion multi-strategy fund, froze redemptions when 30% of investors asked for their money back.  Apparently the fund was up 16% per year for 10+ years, then hit the skids with a -25% YTD by the end of October. More…