(Bloomberg) JPMorgan Asset Management is liquidating a $1 billion credit hedge fund led by Fahad Roumani after abandoning a plan to spin it off, according to a letter to investors seen by Bloomberg News. The Palm Lane Credit Opportunities Fund, which started with initial capital from JPMorgan Chase & Co., earlier this year reversed a decision to transfer the management contract to a separate company, according to the letter dated June 13. JPMorgan didn’t give a reason for the decision and a spokeswoman for the fund declined to comment.
JPMorgan is Liquidating $1 Billion Credit Hedge Fund Led by Fahad Roumani
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