Hedge Funds Find Credit
Prime Brokers Offering Credit to Hedge Funds Again
"Banks have all lowered their rates and are competing again -- at one moment they were pushing hedge funds away, now they're competing for funds," said Oliver Dobbs, chief investment officer of portfolio management at hedge fund firm CQS, talking about convertible arbitrage strategies.
"Up to five-times leverage is available on a blended basis for a relative value fund and perhaps as much as 10-times for the right individual credit," he told Reuters.
Last year's collapse of Lehman Brothers (LEHMQ.PK) saw many banks and hedge funds grow nervous over their relationships with one another. Source
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