Carlyle Capital hedge fund goes bust
Lenders pull the plug on refinancing for £11bn hedge fund as sub-prime shockwaves continue to wreak havoc
Lenders pull the plug on refinancing for £11bn hedge fund as sub-prime shockwaves continue to wreak havoc
Carlyle Group has been forced to shut down an £11bn fund after banks pulled
out of a refinancing package.
Its Carlyle Capital hedge fund, which had a large exposure to the US mortgage
market is in dire straits only two weeks after the company issued its annual
report for 2007 with a clean bill of health from the auditors
PricewaterhouseCoopers,
The
Guardian said.
The
company said: ‘Carlyle Capital Corporation announced on 12 March that its
negotiations with lenders to refinance its portfolio of US government agency
AAA-rated residential mortgage-backed securities had ended. Carlyle Capital was
unable to reach a deal with lenders to refinance its portfolio on sustainable
terms. As a result, it is expected that Carlyle Capital’s lenders will take
possession of the remaining residential mortgage backed securities assets.’
Further reading:
Deloitte
takes over Standard Chartered SIV
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article