Carlyle Hedge Fund Down 15%

Dec 21 2007 | 11:01am ET

The Carlyle Group’s foray into hedge funds is not going as planned. The firm’s Blue Wave hedge fund suffered another big monthly decline in November, and is down almost 15% year-to-date.

Blue Wave was hurt last month by continuing credit market losses. The fund, which has received some $150 million in new commitments, declined by 6% last month, Bloomberg News reports. It managed $690 million at the beginning of October.

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