The Wall Street Journal reported on Friday that Cerberus Capital Management's core hedge funds clients have opted to withdraw the majority of the money in the funds.
Reuters reports that Eden Rock Structured Finance has seen its value drop further in 2009, leaving some investors saying they are worried they may get back little of their money in the hedge fund, which is due to be wound up after losses last year.
John Paulson owns 2 per cent stake in BofA (Fund News)
John Paulson, who made billions of dollars with his hedge fund Paulson & Co. betting against subprime mortgages and shorting bank stocks during the past two years, has bought close to 2 per cent of Bank of America.
Ex-Madoff finance chief Frank DiPascali pleads guilty (Headlines)
Frank DiPascali, the finance chief at Bernard Madoffâ??s investment advisory business, pleaded guilty to helping his boss carry out a $65bn Ponzi scheme and is helping prosecutors build cases against his accomplices.