Credit Suisse Said to Have Urged Clients in 2000 to Pull Money From Madoff Credit Suisse Group AG, whose clients lost almost $1 billion in Bernard Madoff’s alleged swindle, urged customers more than eight years ago to withdraw cash from his firm because the bank couldn’t determine how he made money, said three people familiar with the matter.
Emerging-Market Equity Funds Lose Record $48.3 Billion in 2008, EPFR Says Emerging-market equity investors withdrew a record $48.3 billion from their funds in 2008 as the global financial crisis and economic recession hurt demand for riskier assets, according to data from EPFR Global.
Black’s Apollo Said to Be Among Largest Creditors in Lyondell Bankruptcy Apollo Management LP, the private- equity firm led by Leon Black, holds about $2 billion of loans from Lyondell Chemical Co., which filed for bankruptcy protection, people with direct knowledge of the matter said.
Ackman Tells Investors Main Pershing Square Hedge Fund Declined 12% in ’08 Pershing Square International Ltd., the biggest hedge fund of activist investor William Ackman, lost 12 percent in 2008, less than industry average.
Abraaj Capital Sees Buyout Opportunities Among Listed Companies in Mideast Abraaj Capital Ltd., the Middle East’s biggest private buyout firm, aims to acquire publicly traded companies in countries from Saudi Arabia to Turkey as it seeks to benefit from falling share prices amid the financial crisis.
Madoff Victims May Start Getting Cash Within 2 Months, SIPC’s Harbeck Says Investors who lost money in Bernard Madoff’s alleged $50 billion fraud might begin recovering some of their funds as soon as next month, Securities Investor Protection Corp. President Stephen Harbeck said.
Regulator May Extend U.K. Short-Sale Disclosure Rules to All 3,489 Shares Britain’s financial regulator said it may force investors to disclose short positions on all 3,489 shares traded on U.K. exchanges, after it dropped a ban that protected 34 financial companies from short-sellers.
Mizuho’s Takei, Who Predicted Treasury Rally, Bets on 30-Year Bond in 2009 Akira Takei at Mizuho Asset Management Co., who correctly predicted rallies in U.S. government debt for the past two years, is betting on 30-year Treasury bonds for 2009.
GMAC’s Future as Bank Holding Company May Not Include Merkin as Chairman J. Ezra Merkin, whose hedge funds lost billions of dollars on investments with Bernard Madoff, may have to relinquish his post as chairman of GMAC LLC after the lender was bailed out by the federal government.