New York
IF nothing else, the last week has proved that it can be very difficult to run a hedge fund. The Carlyle Group, the private equity giant, has known that for much longer.
Its Carlyle Capital fund became a harbinger of the financial crisis after it imploded in March 2008. Months later, Blue Wave Partners, Carlyle's entrance into hedge funds, ended abruptly after it failed to raise enough money from investors.
They were among the first in a series of bumps in the road for Carlyle and its hedge fund investments, the most recent of which came to the fore last week, when it announced that its credit-focused hedge fund, Claren Road Asset Management, faced nearly US$2 billion in investor redemption...
Keyword added to your list