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Highland Capitals Crusader Fund: The Hedge Fund Fallout Begins

Bloomberg covers the demise of Highland’s Crusader fund, formerly one of the biggest names in the market:

Highland Capital Management LP will close its flagship Highland Crusader Fund and another hedge fund after losses on high-yield, high-risk loans and other types of debt, according to a person with knowledge of the decision.

Highland, whose total assets under management has shrunk to about $33 billion from $40 billion in March, will wind down the Crusader fund and the Highl

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