Investors, bankers and policymakers on Tuesday welcomed a deal reached by Goldman Sachs to restructure the first of a string of collapsed investment vehicles, seeing it as a sign that the private sector is finally crafting solutions to credit-market problems of distressed assets and structures. Receivers to the $7bn structured investment vehicle formerly run by UK-based hedge fund Cheyne Capital confirmed Tuesday an agreement to restructure and sell the portfolio to Goldman. Deloitte & Touche also confirmed plans for an auction in mid-July of the Cheyne Finance assets to determine the price at which the portfolio is to be sold to Goldman.

This entry was posted by Gwen Robinson on Wednesday, June 18th, 2008 at 5:36 and is filed under Capital markets. Tagged with cheyne, goldman sachs. Edit this entry.