Meredith Whitney Wins Early Victory in Fund Survival War
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Meredith Whitney won an early victory in the fight to save her hedge fund as a judge said investor payments can resume while billionaire Michael Platt seeks to recoup his stake.
Platt’s BlueCrest Capital Opportunities Ltd., the biggest investor in Whitney’s hedge fund, is suing Whitney, saying she refused an October request to return its investment, now worth $46 million. Whitney’s American Revival Fund slid 11 percent last year through November while the S&P 500 rose almost 12 percent. Platt in 2013 helped Whitney start her firm, Kenbelle Capital, by investing $50 million.