Unusual deal: Crestline-Kirchner takes over management of hedge fund

Crestline-Kirchner Private Equity Group recently stepped in as manager for an underwater hedge fund launched by the late Richard Medley, in an unusual transfer of control to run the portfolio as a private equity pool.

Medley Opportunity Fund LP (MOF I), a domestic fund, has been renamed CK Pearl Fund LP. The name change also applies to the fund’s overseas vehicle, Medley Opportunity Fund Ltd. Launched in 2006 as a hedge fund to invest in ...

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