Reuters – Belgian bank KBC said it had terminated a $219 million leverage facility it provided to BlueCrest Specialty Asset Finance, a fund run by UK hedge funds manager BlueCrest Capital Management.
It was not immediately clear how much of the facility KBC will be able to retrieve.
"We continue to work with KBC with a view to maximising recoveries for them as leverage provider and the equity holders as a whole," the fund said in a document sent to investors and obtained by Reuters.
