Citigroup Bails Out Troubled Falcon Hedge Funds

Feb 25 2008 | 1:00am ET

Citigroup has extended a half-billion dollar lifeline a group of its hedge funds rocked by the credit crunch.

The Wall Street giant said late Friday that it has provided a $500 million line of credit to its Falcon Strategies hedge funds. The bank has also consolidated the funds’ $10 billion in assets and liabilities on its own balance sheet.


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