US - Collapsed hedge fund Amaranth has repaid US$48.2m to the San Diego County Employees' Retirement Association (SDCERA), with further payments expected.
The US$7.7bn SDCERA invested $175m in the hedge fund, which lost billions of dollars in days following bad bets on natural gas. Estimates as to how much the pension fund stood to lose varied between $60m to $100m, but the latest estimates have stated the amount at close to $85m.
Following Amaranth's collapse, SDCERA hired law firm Bernstein Litowitz Berger & Grossman to investigate whether to sue.
Amaranth is currently liquidating all its holdings and paying off investors, and has told SDCERA further payments would likely be made.
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