Horizon halts redemptions from hedge fund as Greek exposure bites

LONDON (Reuters) - Horizon Capital Management has suspended a hedge fund running almost a third of its capital in Greek assets because it cannot fully assess the value of holdings amid the country's deepening debt woes, a letter to investors obtained by Reuters showed.

The Horizon Growth Fund had 31 percent of its assets invested in Greece just before the country announced capital controls and a week-long closure of banks and the Athens Stock Exchange last week, according to the letter. The fund managed $159 million at the end of May.