Funds formed to snap up bargain properties are returning money

05/26/2010 | Wall Street Journal, The

At least 19 private-equity funds formed to acquire bargain or distressed properties have allowed or will allow investors to exit their commitments as they are unable to fulfill their investment mandates. That represents more than $6 billion in capital that was not invested because the funds couldn't find appropriate investments. "Funds are fighting over a slim group of available deals," says Mark Edelstein of law firm Morrison & Foester.

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Wall Street Journal, The

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