Secondary market hedge fund interests continue to be actively traded, and as LP broker Hedge Bay indicates, the discounts for offers have hit unprecedented levels. The most recent level of Hedge Bay's Secondary Market Index Value hit an all time low of 80.31 for the month of March.


In terms of specific bids and asks, presented below are the most notable blocks for sale over the past 10 days:

Quantek Opportunity Fund: $15.0 million

Diamondback Offshore Fund: $10.0 million

Brevet Capital Special Opps: $10.7 million

New Stream Capital Fund: $8.2 million

Global Secured Capital Fund: $6.5 million

Whitecap Offshore: $5.0 million

Hound Partners: $2.0 million

Contrarian Capital Finance: $1.9 million

On the bidside, there have been quite a few interested buyers as well, the most notable of which are the following brand name hedge funds:

Basso Investors: $10.0 million

GoldenTree Offshore: $10.0 million

Millennium: $8.0 million

Third Eye: $19 million (offset by $12.5 million for sale)

Ore Hill: $5.0 million

Paulson Advantage: $5.0 million

King Street Capital: $5.0 million

Pershing Square: $5.0 million

Jana Partners: $5.0 million

One East Partners: $1.8 million

Ultimately, whether a transaction occurs depends on whether the buyer and seller are willing and able to agree on a final transaction price. It is likely that the bid/ask spreads in this highly illiquid market would be wide enough to prevent all but the most determined sellers and buyers.