“Stone Lion, founded in 2008 by Bear Stearns & Co. Inc. veterans Gregory Hanley and Alan Mintz, is in a similar malaise, facing heavy losses on so-called distressed investments including junk bonds, post reorganization equities and other special situations, people familiar with the matter said. Its oldest set of credit funds, which manage $400 million altogether, received ‘substantial redemption requests,’ precipitating the decision, the firm said in a statement. The firm didn’t give a time frame for when the money would be returned. The firm continues to operate several other funds, including one that bets on Puerto Rico’s economic recovery.”
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