{"id":6495,"date":"2007-09-03T00:00:00","date_gmt":"2007-09-03T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"barclays-bails-out-a-hedge-fund-forbes","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2007\/barclays-bails-out-a-hedge-fund-forbes.html","title":{"rendered":"Barclays Bails Out A Hedge Fund &#8211; Forbes"},"content":{"rendered":"<p>  Forbes- Barclays now has to grapple with both a buyout <em>and<\/em> a bailout. Midway through its gargantuan <a href=  \"http:\/\/www.forbes.com\/markets\/2007\/07\/13\/barclays-abn-update-markets-equity-cx_po_0713markets16.html\">takeover bid<\/a> for Dutch rival ABN Amro, the British bank said it is rescuing a hedge fund  client with a $1.6 billion loan.<\/p>\n<p>  Yet the lender has managed to save face. Shares in Barclays closed up 3.0%, to 615 pence ($12.40), after the bank reassured investors that Cairn Capital, the hedge fund to which its investment  banking division sold a structured investment vehicle, would simply change the type of financial instruments it would use from Barclays.<\/p>\n<p>  Barclays Capital is one of the financial market&#8217;s main providers of SIV-lites, a financial product which is designed to help clients&#8211;typically hedge funds or other banks&#8211;make money from the  difference between short-term and long-term borrowing rates.&nbsp;<\/p>\n<p>  These vehicles, often given fancy names, have funded portfolios of American mortgage-backed securities and other assets with short-term funding from the commercial paper markets.<\/p>\n<p>  <a href=  \"http:\/\/www.google.com\/news\/url?sa=T&amp;ct=us\/7-0&amp;fd=R&amp;url=http:\/\/www.forbes.com\/markets\/2007\/08\/31\/barclays-cairn-siv-markets-equity-cx_po_0831markets17.html&amp;cid=1119931262&amp;ei=I7zbRtz8PIKcrQPzmOHOBw\">  <strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forbes- Barclays now has to grapple with both a buyout and a bailout. Midway through its gargantuan takeover bid for Dutch rival ABN Amro, the British bank said it is rescuing a hedge fund client with a $1.6 billion loan. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6495","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6495"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6495\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}