Reuters – Hedge funds stalking distressed assets in Europe may be left with slim pickings after a trillion-euro cash injection from the European Central Bank (ECB) eased the pressure on banks to dump some of their weaker holdings.
Many fund managers, who have been scenting prey since the credit crisis began, had been hoping European banks would sell off assets such as corporate loans and project finance debt to comply with Basel III global capital adequacy rules, the thrust of which comes into force next year.
