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Former $2 billion private equity fund now nearly worthless - WSJ

Reuters 

REUTERS - Wells Fargo and a number of other lenders are negotiating to take control of a hedge fund previously valued at more than $2 billion that is now worth close to nothing, according to a report from the Wall Street Journal.EnerVest Ltd., a Houston private equity firm that focuses on energy investments, manages the private equity fund that focused on oil investments. The fund will leave clients, including major pensions, endowments and charitable foundations, with at most pennies on the dollar, WSJ reported. The firm raised and started investing money beginning in 2013 when oil was ...

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First Published: Sun, July 16 2017. 23:53 IST
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