Spiga

Its hard to trade these markets...

Citigroup has been in the news reporting almost 10 billion in total losses for the quarter.  What is surprising is the almost 2.4 billion total in Private Equity losses.  Its hedge funds are doing even worse:


Corporate Special Opportunities clients, who have been barred from redeeming their investments since last January, will get back on 3 cents on the dollar, the Financial Times reports. The news, delivered in a letter dated Dec. 22, is likely to be a bitter disappointment to investors, who had been expecting to receive roughly 10 cents on the dollar.

It is also a bitter blow to the embattled financial giant, which will likely lose the hundreds of million it lent to the hedge fund to prop it up. Citigroup injected $320 million into CSO last year, along with a $450 million credit line, and placed assets with a nominal value of $1 billion with the fund, as well.

NOT GOOD NEWS:


Type rest of the post here

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