Marble Ridge Capital LP, a hedge fund known for its role investing in distressed companies, is shutting down after a bankruptcy watchdog revealed founder Dan Kamensky attempted to influence an auction for a piece of bankrupt retailer Neiman Marcus Group Ltd.
A spokesman for Marble Ridge said Friday that the fund is “winding down.”
Marble Ridge was founded in 2015 and has about $1 billion in assets under management.
The actions of Mr. Kamensky, a managing partner at the firm, surfaced in an investigative report submitted in Neiman’s chapter 11 proceedings Wednesday by officials from the Justice Department.
The report revealed that despite being part of the official creditors’ committee, Mr. Kamensky secretly lobbied to prevent investment bank Jefferies LLC from making a competing bid to acquire shares in Neiman’s e-commerce business, MyTheresa.
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August 21, 2020 at 07:59PM
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Hedge Fund Marble Ridge to Shut Down - The Wall Street Journal
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