(Reuters) - Now Blackstone Group, the private equity giant, is
presenting a plan to rescue Cioffi's Bear Stearns Cos.
hedge fund that is on the brink of collapse, and Bear Stearns
is infusing $1.5 billion of its own capital to save the fund,
according to people familiar with the situation on Tuesday.
The fund already has sold off $4 billion in mortgage-backed
securities to raise money that could pay redemptions and margin
calls after the Bear Stearns High-Grade Structured Credit
Strategies fund won a reprieve from creditors on Monday,
gaining one more day to present a rescue plan.
Read more at Reuters.com Bonds News
presenting a plan to rescue Cioffi's Bear Stearns Cos.
hedge fund that is on the brink of collapse, and Bear Stearns
is infusing $1.5 billion of its own capital to save the fund,
according to people familiar with the situation on Tuesday.
The fund already has sold off $4 billion in mortgage-backed
securities to raise money that could pay redemptions and margin
calls after the Bear Stearns High-Grade Structured Credit
Strategies fund won a reprieve from creditors on Monday,
gaining one more day to present a rescue plan.
Read more at Reuters.com Bonds News
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