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Carlyle Hedge Fund Down 15%

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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