Bear Stearns bails out hedge fund
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Bear Stearns Cos. Inc.  on Friday said it will provide up to $3.2 billion in financing for a struggling hedge fund it manages, but sources said a second fund is still working out a restructuring plan with creditors.
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WASHINGTON - Bear Stearns Cos. , reeling from mortgage-related losses, shored up investor support by selling a stake to China's government-controlled Citic Securities Co. and gaining a foothold in the world's best-performing stock market.
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European equity markets sank on Wednesday after subprime concerns resurfaced following the announcement by Bear Stearns (NYSE:BSC) that two of its hedge funds, both backed by subprime loans, were &quot;virtually worthless&quot;.
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Bear Stearns Cos. , the biggest broker for US hedge funds, has offered to provide $1.5 billion in loans to help rescue a money-losing fund run by its asset management unit, according to a person familiar with the situation.
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Bear Stearns Cos. Inc.  may have to bail out a second troubled hedge fund that it manages, Merrill Lynch analyst Guy Moszkowski wrote on Monday.
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Investors in two struggling Bear  Stearns Cos.  hedge funds that made bad bets on risky  mortgages will almost surely file lawsuits in hopes of  recouping losses, but legal experts say they could have a tough  time proving their case.
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Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, The Wall Street Journal reported on Friday. The largest U.S. bank suspended redemptions in CSO Partners, a fund specializing in corporate debt, after investors tried to pull more than [...].
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The debacle in mortgage lending that spurred wild daily swings in the markets has tripped up many hedge funds.
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Bear Stearns Cos Inc  posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages.
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Massachusetts Secretary of State William F. Galvin yesterday charged a unit of Bear Stearns Cos. with engaging in improper trading activities at two collapsed hedge funds, the first action by regulators following the funds' meltdown over the summer.
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federal judge ruled yesterday against Long-Term Capital Management, the mammoth hedge fund whose collapse in 1998 roiled world markets, finding that the fund acted
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Bear Stearns Cos. Inc.  is not  currently planning to bail out a second hedge fund that has  suffered big losses, a source close to the matter said on  Tuesday.
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Bear Stearns Cos. Inc.  does not plan to bail out the second of two struggling hedge funds -- citing stabilizing markets -- but the subprime loan woes that brought the funds down continue to rattle investors.
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Bear Stearns, which bailed out two hedge funds with $1.6bn, hires a new head of asset management.
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Basis Yield Alpha Fund, a hedge fund specializing in corporate and structured credit, on Wednesday filed for bankruptcy protection in the United States amid mounting losses from U.S. subprime mortgage assets, court papers show.
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The Securities and Exchange Commission is examining the near-collapse of two Bear Stearns hedge funds that made bad bets on the mortgage market.
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Bear Stearns Cos. narrowly averted the very public collapse of two hedge funds this week after rivals balked at forcing their immediate dissolution.