Saturday, 1 August 2015
Last updated 19 hours ago
Mar 13 2008 | 8:49am ET
Amid speculation that Washington Mutual is nearing a recapitalization deal, one London hedge fund is moving in to ensure it gets a piece of the pie.
London-based Toscafund Asset Management has offered to be part of any consortium making a capital infusion into Washington Mutual, the largest savings-and-loan institution in the U.S., according to The Wall Street Journal.
Toscafund already owns a large stake in WaMu, which has been battered by the credit crisis, and reportedly fears that a recapitalization may dilute its stake in the firm.
The US$8 billion hedge fund group’s move is seen as a preemptive strike, staking the claim that existing investors should have the opportunity to participate in any recapitalization plan.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…