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Monday, August 31, 2009
10:21 AM TweetThis
  • Cerberus plans to raise money to buy distressed companies and debt after investors pulled almost $5.5B. The firm says the huge redemptions - representing 60% of all its funds - were mostly due to money managers with liquidity problems, and don't reflect a loss of confidence in Cerberus.
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This news story has 2 comments:

  •  
    I'd hate to see the carnage if there had been a loss of confidence.
    Aug 31 10:25 AM | Link | Reply
  •  
    I guess they had to say something to put a positive spin on it, but will anyone believe them? According to Walter Kurtz's instablog

    seekingalpha.com/insta...

    Investors were livid that Cerberus refused to allow redemptions.
    Aug 31 10:31 AM | Link | Reply
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