Wednesday, 27 May 2015
Last updated 50 min ago
Mar 12 2008 | 8:20am ET
Citigroup has been forced to bail out six more hedge funds, to the tune of $1 billion. The Wall Street giant has poured $1 billion into its ASAT Finance and MAT Finance funds.
The $15 billion funds have been hard-hit by volatility in the municipal bond markets.
Citi committed an additional $400 million to the funds, after they had burned through $600 million provided by the bank to allow them to keep trading and meet margin calls.
Earlier this year, Citi had to bail out its CSO Partners hedge fund with a $100 million capital injection, and it also had to provide a $500 million line of credit to its Falcon Strategies hedge funds to keep them afloat.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…