AIG is to receive a revised $150bn US government bail-out package that will allow the troubled insurer to reduce interest payments and give it more time to sell assets and save itself from collapse.
Solomon Owayda, who oversees €4.4bn of private equity investments at SVG said at a conference in London that "I am going to have a hard time when someone is trying to raise their third or fourth fund and it’s going to be $4bn or $5bn and they still want to charge 2 per cent."
GMAC, General Motors' financing arm, on Wednesday said there was substantial doubt as to whether Residential Capital, its mortgage finance unit, would survive without outside support.