(Bloomberg) -- H2O Asset Management has written down the value of some of its funds that contain hard-to-sell assets by more than 40% since August.
The hedge fund has lowered the net asset values of the funds by between 25% and 44%, according to its website.
A spokesperson for H2O was not immediately available for comment.
In the fall of 2020, H2O froze the trading of several vehicles because of valuation uncertainties due to a large exposure to thinly traded securities linked to German businessman Lars Windhorst. The funds were later split, in a process known as side pocketing, to separate them from the liquid assets.
Natixis, the firm's majority shareholder, is in the process of selling its stake to H2O's management.
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