London based Cheyne Capital's $6.3 billion SIV vehicle, Cheyne Finance, is the latest credit market meltdown victim. The company told investors that it had breached funding restrictions, with the consequence ultimately being a wind down of the fund. As of last week, the company had drawn down $275 million of bank lines leaving it with more than $1 billion in cash....
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- Subprime Woes Touch A U.K. Public Fund, Opening Up the Game [Cheyne]
- Bear Stearns Turns to Marano for Bailout, Underscoring Risks
- Bear private equity not exposed to subprime woes
- Bear Stearns stands firm in face of trouble
- Merrill's O'Neal Sees No `Contagion' From Subprime Mortgages
Continue reading "Heard on the Street on Cheyne's subprime fund woes; Bear Stearns brings in its big gun to help manage their fund bailout; Bear says subprime woes not spilling into its private equity arm; Merrill's Stan O'Neal sees no bond market subprime contagion" »
- Cheyne Capital sells ‘risky’ securities
- London hedge fund feels sub-prime pain
- Bear's Stock Is Acting Like Its Name
- SEC Looking Into Bear Fund Restatement [Bear saying no 2nd fund bailout]
- Bear May Have to Save Second Hedge Fund, Merrill Says
- Funds’ Woes Didn’t Deter a Stock Offer
Continue reading "Half off sale at Cheyne Capital leaky subprime fund; Cheyne end of March equity €294 million vs €402 million at end of Dec; Merrill analyst: Bear may have to bail out second, more leveraged failing fund -- Bear saying no; More Bear Stearns headlines" »
- Cheyne Capital Fund Posts Loss on Subprime Slump
- Bear Stearns's `Friends' Reject Hedge Fund Rescue in LTCM Redux
- Bear Bites Bullet With $3.2B Line Of Credit
- Wall Street Fears Bear Stearns Is Tip of an Iceberg
- Bear Stearns raises subprime exposure
Continue reading "Cheyne Capital fund is the latest subprime loss victim; Bear Stearns hedge fund meltdown headlines" »