Bear Stearns steps in to avert meltdown of two hedge funds

Fri Jun 22, 2007



Bear Stearns, eager to avoid the dissolution of two big, but struggling, hedge funds, has reportedly proposed a $3.2 billion bailout that would keep the funds’ creditors from seizing and selling assets.

The firm yesterday informed the funds’ lenders that it would take over their loans. The bailout was proffered after reports that at least three of the lenders had offered their collateral for sale. Bear Stearns did not return calls for...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI