HK Regulator Defers Myriad Launch

Hong Kong’sSecurities and Futures Commission(SFC) is postponing the launch of hedge fundMyriadbyCarl Huttenlocher, the former Asia investment head ofHighbridge Capital Management,The Wall Street Journalreports. The SFC is investigating allegations that Huttenlocher, who left Highbridge earlier this year, or others working for his fund improperly valued illiquid assets among other actions during the financial crisis and its aftermath.

The SFC is reviewing if the valuations of Huttenlocher’s fund, the timing of its asset sales and payouts to withdrawing investors, unfairly benefited ongoing investors. Huttenlocher’s hedge fund was likely to start trading with about $300 million initially and raise above $1 billion by early next year after opening to external investors, addsReuters.

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