Falcon, a fixed income fund that had $10bn under management at its peak, is being unwound, with investors likely to receive no more than 45 cents on the dollar.
Bondholders in private equity owned firms face big cuts (Fund News)
Heavily indebted companies owned by private equity firms, are asking their bondholders to accept a big cut in the value of their investments or risk falling behind other creditors in getting repaid.
Gottex halts redemptions at fund of funds (Fund News)
Gottex Fund Management Holdings Ltd., the Swiss hedgefund group, said it had temporarily suspended redemptions from their fund of funds. The fund of funds hold about 65 per cent of total assets under management.
Hedge funds trying to raise fresh capital (Fund News)
Blackstoneâ??s GSO Capital Partners and GoldenTree Asset Management, two prominent debt hedge funds, are turning to investors for more capital in the face of markdowns on their holdings and margin calls from their lenders.