Barclays is offering to underwrite the $1bn rescue of another highly geared fund that got into trouble because of the liquidity squeeze, The Times reports.
Mainsail II, a $4.5 billion (£2.2 billion) structured investment vehicle designed by Barclays Capital and managed by the hedge fund group Solent Capital, had been forced to start selling assets as it struggled to roll over finance in the commercial paper market. Mainsail said last night that its security trustee regarded the Barclays restructuring plan as “credible”. HSBC IS BEING targeted by an activist American investor which wants to force a shake-up at Britain's biggest bank, according to The Guardian. The high-profile US fund management firm, Knight Vinke Asset Management, was be...
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