Arini, Eicos, Squarepoint Entangled in Signa Bond Insolvency (1)

Alternative investment managers including Arini, Eicos and Squarepoint have tens of millions of euros at risk with their investments in a unit of the insolvent real estate conglomerate Signa.

Arini, a hedge fund founded by former Credit Suisse trader Hamza Lemssouguer, holds about half of the €300 million ($326 million) of bonds issued by Signa Development, making it one of the biggest creditors of the company, according to a company filing circulated on Monday and seen by Bloomberg News. The notes are now quoted at around 14 cents on the euro, according to data compiled by Bloomberg.

Eicos Investment ...