Buyout Firms Struggle to Spend $503 Billion of Investor Cash as Deals Wane Buyout funds sitting on half a trillion dollars committed by investors may need more than a decade to put the money to work if mergers and acquisitions continue at the current pace.

Hedge-Fund Losses Show Drop in Euro Fails to Benefit All Currency Traders Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money.

Apollo Said to Triple Real Estate Assets With Purchase of Citigroup Unit Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit in a move that will more than triple the value of the private-equity firm’s property assets, a person with knowledge of the deal said yesterday.

Pink Floyd, Queen May Leave EMI as Guy Hands’s Buyout Mission `Implodes’ Pink Floyd and Queen, bands that have been with EMI Music for about four decades, may head for the door, according to two people familiar with their talks, as concern mounts about the U.K. record label’s finances.

Defaults May Signal Bursting Muni Junk Bubble After 30% High-Yield Surge Investors in search of better returns poured $7.8 billion into high-yield municipal bond funds last year, pushing assets to a two-year high. They may start experiencing losses as early as this year as default risks grow.

Bernstein Said to Hire Keefe, Bruyette’s Zanardo for Bank Equity Research Sanford C. Bernstein & Co. hired Keefe, Bruyette & Woods’ analyst Marcello Zanardo to head its European banking equity research team in London, according to two people familiar with the situation.

Terra Industries Tells Yara That CF’s $4.68 Billion Buy Offer Is Superior Terra Industries Inc., the target of a bidding war, told suitor Yara International ASA that a $4.71 billion offer from fertilizer producer CF Industries Holdings Inc. is superior and asked for a counterproposal.