WSJ says Cheyne SIV Portfolio Assets To Be Sold to Goldman Sachs

Dec 24 07

WSJ says Cheyne SIV Portfolio Assets To Be Sold to Goldman Sachs. The biggest default in the money market crisis of 2007 appears to be nearing resolution, as Cheyne Finance's SIV assets are to be taken over by Goldman Sachs. The Journal writes, "If successful, the deal will end months of investor uncertainty and will be the first restructuring of a stand-alone SIV.... SIV Portfolio, formerly Cheyne Finance, was managed by London hedge-fund group Cheyne Capital Management (UK) LLP, and was one of the first SIVs to have trouble funding itself in August." See Bloomberg too.

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