Private Equity and Hedge Funds
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Bear Stearns, recently embarrassed by the collapse of two hedge funds, said on Tuesday it has halted redemptions in a third hedge fund after jittery investors wanted to pull out their money.
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Australia's Macquarie Bank warned on Wednesday that retail investors in two debt funds face losses of up to 25 percent as fallout from the global credit crunch widened, knocking 10 percent off its shares.
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Hedge fund Sowood Capital told investors on Monday that it would shut down after losing half of its assets on soured bond market bets, becoming the first-high profile fund forced out of business by recent market turmoil.
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Bankers have postponed the sale of $12 billion in debt to help private equity firm Cerberus Capital Management buy Chrysler Group from DaimlerChrysler, fueling further nervousness in the credit and stock markets.
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Kohlberg Kravis Roberts, the legendary leveraged buyout firm known for its tough deal tactics, is living up to its image, to the growing frustration of Wall Street. KKR, with four major buyout deals in the debt pipeline, is refusing to budge on lending terms agreed to with investment banks, even as debt investors show a weakening appetite