2009-02-12 — reuters.com
Yorkville Advisors, a $1 billion hedge fund, said it is stepping into the lending vacuum left by banks as it provides struggling firms with loans for up to two years, typically in the $5 million to $40 million range.
More recently the value of the loans has increased as larger-cap companies seek assistance. At end-January, Yorkville loaned $147.9 million to shipping firm Ocean Freight Inc.
This is a very interesting illustration of the opportunity that sound hedge funds have now in coming to the rescue of business and industry.
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