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Tuesday, December 23, 2008

Cerberus Limits Withdrawals

by Calculated Risk on 12/23/2008 08:15:00 PM

Video from CNBC.

From Bloomberg: Cerberus Caps Withdrawals From Hedge Fund After Loss

Cerberus Capital Management LLC, the $27 billion investment firm founded by billionaire Stephen Feinberg, limited investor withdrawals from one of its hedge funds after it lost 16 percent this year through November.
As we all know, Cerberus is the three-headed dog who guards the gates of Hell. And at least one head is making sure investors' money doesn't escape from money hell.