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FRIDAY APRIL 18
SageCrest’s Emergency Loan How hedge fund brothers Alan and Philip Milton from Greenwich, Conn., were purportedly foiled by a handful of big loans that went south roughly around the time litigation boiled over in New York over the fund’s complex financing of art purchases. The result? An 11th hour scramble for funding from not a bank, but a fellow hedge fund (Fortress) to pay off a loan from – what else? – a bank (Deutsche). Behold, a cautionary tale of a doughty fund that may yet see itself through this nightmare. April 2008New User?Sign up to get free access to TraderDaily.com
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