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Australian banks count exposure to ailing hedge fund
Source:
Reuters
The funds management arms of some of Australia's biggest banks
are scrambling to assess more than A$300 million ($264 million)
in exposures to troubled local hedge fund Basis Capital, which
has lost heavily in bets gone wrong in the U.S. subprime crisis.
More...
Bear Stearns Shares Show Cayne's Dummy `Body Blow' Won't Hurt
Source:
Bloomberg
When Bear Stearns Cos. Chief Executive Officer James E. "Jimmy''
Cayne told the New York Times the failure of the firm's hedge
funds was a "body blow of massive proportion,'' he may have been
using a tactic honed in three decades of championship bridge.
More...
Corporate Bond Risk Soars on Concern Over Hedge Fund Selloff
Source: Bloomberg
The risk of owning corporate bonds rose to the highest in at
least two years in the U.S. and Europe on concern hedge funds
may have to sell assets to cover losses, according to traders of
credit-default swaps. More...
DealTalk: Hedge funds opt to be lenders of last resort
Source:
The Washington Post
Future residents of the Cottage Gate development in Middletown,
New Jersey, may be surprised to learn their granite countertops
and two-car garages were paid for by a hedge fund.
More...
Hedge funds pull in $58.7 bln in second quarter
Source:
MarketWatch
Hedge funds pulled in $58.7 billion in new assets in the second
quarter, the second-largest quarterly inflow on record, as
investors were unperturbed by subprime mortgage problems of a
few managers, Hedge Fund Research said on Monday.
More...
Restructuring pros head for Spanish sun -- to work
Source:
Reuters UK
European bankers and restructuring professionals are headed for
Spain's sunny coasts in the coming months, but not for a
holiday.
Rising interest rates, soaring corporate debt levels and a
cooling real estate market after five years of exuberance are
expected to generate restructuring and refinancing deals in a
country generally bereft of them, bankers and lawyers say. More...
Hedge shops put heat on mutual funds
Source:
MSNBC
Having already riled Corporate America's board rooms, hedge
funds and other activist investors are increasingly putting the
squeeze on an unexpected -- and perhaps unsuspecting -- source
of cash: mutual funds.
More...
Vranos hedge fund seeks $750 mln for subprime - NY Times
Source:
Reuters
Hedge fund manager Michael Vranos is trying to raise $750
million to fund a new company that specializes in the risky
subprime mortgages that have roiled several corners of the U.S.
economy, The New York Times reported on Sunday. More...
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