Kempner reviews $250 million loan to edtech firm Byju’s amid crises

Davidson Kempner Capital Management isn’t fully disbursing a $250 million loan it had extended to the ed-tech firm Byju’s as the US hedge fund reviews the lending decision in light of an escalating crisis at the company, according to people familiar with the matter.

The fund, which manages more than $38 billion, has given out less than half of the $250 million of convertible debt it had offered the start-up as some loan agreement covenants weren’t met, the people said, asking not to be named as the information isn’t public.