Goldman Sachs and the Royal Bank of Scotland are reportedly bidding to keep Cheyne Finance, the structured investment vehicle founder by London hedge fund Cheyne Capital, afloat.
Deloitte & Touche, appointed receiver of the SIV by Cheyne Capital, is in talks with three banks in an effort to let Cheyne Finance to live to trade another day.
A decision on a bidder could be reached within days, according to The Telegraph. Under certain plans, the SIV could be back in business. The future of Cheyne Finance’s managers remains uncertain.