Hedge Fund Greylock Files for Bankruptcy in New York (Correct)

Greylock Capital Associates filed for bankruptcy proceedings in New York after years of negative returns triggered fund withdrawals.

Assets under management at the hedge fund --which more than halved since 2017 to $450 million at the end of 2020-- will drop by $100 million by the end of March after the firm recorded three years of losses, according to a filing dated Jan. 31, signed by Chief Financial Officer David Steltzer.

Greylock, led by Chief Executive Officer Hans Humes, is known for taking bets on troubled sovereign debt, from Greece to Lebanon. The Chapter 11 proceedings will allow ...