Stone Lion Capital halts redemptions
Dow Jones reports that Stone Lion Capital has suspended redemptions after substantial client requests. The fund manages $1.3 billion and focuses on distressed debt.
I'm not quite as worried about this one, since they were focused on 'distressed debt' rather than simply the low-grade stuff. I mean, if you're investing in distressed debt, you know what you're getting into.
Still, it will feed into the worries. If there's more over the weekend, we could be in for a brutal open on Monday.
