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Strategies & Market Trends : Hedge Funds

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To: Marty Rubin who wrote (39)	10/9/1998 12:14:00 PM
From: Marty Rubin	Read Replies (3) of 120

"LTCM has used about $1.9 bln of funds so far -WSJ" Friday October 9, 7:12 am Eastern Time LTCM has used about $1.9 bln of funds so far -WSJ NEW YORK, Oct 9 (Reuters) - Long-Term Capital Management LP has gone through about $1.9 billion of the $3.625 billion it received from a group of financial institutions, people close to the situation said, the Wall Street Journal reported Friday. The $1.9 billion may may include market losses, but much of it was used to pay off a $483 million loan facility led by Chase Manhattan Corp. (NYSE:CMB - news) to cancel repurchase agreements and to pay charges on trades with other parties, the report said. So all told the hedge fund had about $1.7 billion in cash as of Monday, sources told the Journal. (http://biz.yahoo.com/rf/981009/gf.html)

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