Hedge Fund Latest News: Icahn Says He Has Secured Financing for Alternative to Dell's Buyout

Wochit 1:12 mins

The billionaire Carl C. Icahn pressed his attack on Dell Inc.'s $24.4 billion proposed leveraged buyout on Monday, announcing that he has secured the $5.2 billion in debt financing necessary for his alternative plan. Investors in David Einhorn's Greenlight Capital Management's offshore gold fund were down 11.8 percent in June, bringing their year-to-date losses in the fund to 20 percent, two sources close to the matter said. Einhorn, one of the most widely followed hedge fund managers and known for warning about Lehman Brothers' precarious finances before it collapsed, has also seen his flagship $8 billion Greenlight Capital fund under recent pressure though it is still up for the year. Though today's lower yields provide less of a cushion, bonds still remain the best, if imperfect, foil to stocks. Financial advisers have been fielding calls from shaken investors in recent weeks, particularly retirees, who are nervous that a bond market crash is on the horizon.

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