Citi Bails Out Six Funds

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.

RELATED ARTICLES:


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note