CARLYLE Group, the US private equity firm, apologised to shareholders yesterday for a "lapse in communication", after it extended a second $US100 million (3.6 million) loan to a mortgage-backed securities fund it had listed last month on Euronext Amsterdam.
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A $US6.6 billion (.16 billion) investment vehicle run by Cheyne Capital, a London hedge fund, yesterday became the latest victim of the crisis in short-term lending markets when it told investors it had breached funding restrictions, forcing an eventual wind-down.
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EXECUTIVES and directors bought up shares in their own companies in August as turmoil spread through financial markets.