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It comes as the firm’s founder said it “will take multiple quarters to meet existing redemption requests” as the fund chases greater liquidity.
is bringing in independent chairs for its corporate trustee and valuation committee to ramp up governance as it admits it will take “multiple quarters” to meet existing redemption requestsThe revelations are included in an email sent by Straight Bat managing partner Steve Gledden on August 4 to an investor seeking to redeem their investments.
“Consistent with things I have said previously, at this stage we think it will take multiple quarters to meet existing redemption requests,” Gledden said.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of Street Talk.
She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.
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