- Cerberus to Raise New Funds After Investors Pull $4.77 Billion
- Lehman’s Europe Administrator May Claim $100 Billion
- Frank Said to Back Broader Fed Audits
- Kennedy Death Cuts Broad Health Bill Odds, Hatch Says
- Raft of Deals for Failed Banks Puts U.S. on Hook for Billions
- Fed makes $14bn profit on loans provided during financial turmoil
- The Flash-Trading Thorn in NYSE’s Side Read the rest of this entry »
Tags: Apple, Barney Frank, Cerberus, Fed, Fees, Health Care, Hedge fund redemptions, Lehman Brothers, NYSE, Politics
Major shrinkage: With massive losses last year (24.5% in its $2B Cerberus Capital partners fund and similarly bad results in its larger offshore fund) and slightly negative returns this year, over half of Steve Feinberg’s Cerberus Partners hedge fund investors have opted to take their money and run instead of rolling it into a new fund with lower fees. It’s unclear how much investors can expect to get back, but it sounds like they’ll take a financial hit and it could take years since the underlying assets are mostly illiquid. They’ll still be paying an administrative fee while they wait for their cash to dribble out, but it won’t apparently be close to the 2% they’re accustomed to paying: 
Former Lehman Brothers CEO Dick Fuld sold his Park Avenue apartment, purchsed in 2007 for $21M, for $25.87M. The buyer: Glenn Fuhrman, a partner at MSD Capital, the firm that manages Michael Dell’s money.
At least one of the pseudonym bearing contributors to popular shit-stirring blog 
If you’re in the market for luxury putt putt, Bernie Madoff’s 90 foot “Bull” could be yours. It’s said to be finally coming on the market after months of being locked up at the port of Antibes. 
According to a new study, apparently the number of people snorting cocaine using our currency is on the rise. Traces of nose candy show up on around 90% of bills tested (95% in Washington D.C.!!!!), up from 67% two years ago. The least favorite bill denominations? The cheap seats and the expensive seats: $1 and $100 bills. The bills of choice: $5, $10 and $20. The results will be presented today at the American Chemical Society: 
After striking out on her own from Oppenheimer in February 2009 to form her own research boutique, 
Page Six reveals that now 
Will it be on Ruth’s summer reading list?: More tales of Bernie Madoff, 
