Covington Fund II sees $42 mln in share redemptions
Covington Group of Funds has completed over $42 million in shareholder redemptions for Covington Fund II. This total includes over $24 million redeemed since the retail venture capital fund was re-opened on January 18, 2016. Since being closed to new investors in 2012, Fund II has seen 21 portfolio exits and has redeemed over 50 percent of outstanding units, representing about $180 million in assets, Covington said. The fund continues to hold investments in 32 companies. Covington said it is optimistic that 2016 "will offer potential exit opportunities" for some of these holdings.
18 January 2016•2 mins read
