On March 23, 2012, Coast Asset Management announced that it will divest itself of its fund of hedge funds business and focus on its fixed income arbitrage investment strategy.
On March 23, 2012, Coast Asset Management, LLC, a Santa Monica, California-based alternative asset management firm, announced that it will be reorganizing its business. Coast has obtained investor consent to sell its fund of hedge funds business in order to focus on its fixed income arbitrage investment funds. The sale transaction for the fund of hedge funds business is expected to close within the next few weeks. The terms of the transaction will not be disclosed.
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