Funds Nurse Huge Losses After Sunedison Inc (SUNEQ) Downfall

It’s fair to say that the sharp rise, and then sudden fall in SunEdison’s shares took all of the company’s investors by surprise. After SunEdison shot to fame in 2013, it became somewhat of a hedge fund hotel with funds owning more than half of the company’s outstanding shares in 2015. As numerous high-profile hedge funds sought to buy into the company’s success story, SunEdison was also lauded as a victory for hedge funds that get involved in boardroom affairs. Funds championed its strategy of forming public holding companies called yieldcos to buy wind and solar farms, freeing up cash that…