CORRECTION: Two of the funds in the $6.8 billion Fairfax County, Virginia, pension system invested $35 million last summer in a high-yield vaneck_us fund that’s now a Genesis creditor. BrandyBetz reports:
late Thursday because of its exposure to collapsed hedge fund Three Arrows Capital and fallen crypto exchange FTX.$6.8 billion pension fund systemThe list of creditors in the bankruptcy filing included the New Finance Income Fund from global asset manager VanEck with a $53 million claim against Genesis.
The fund launched in December 2021 with a strategy of forming short-term lending arrangements with digital-asset entities to achieve high yields, according toLast July, VanEck made headlines when two of the funds in the $6.8 billion Fairfax pension system – the Fairfax County Employees’ Retirement System and the Fairfax County Police Officers Retirement System – invested a
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