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Bear has $35 mln exposure to two hedge funds: CFO

NEW YORK
Fri Jun 22, 2007 2:07pm EDT

NEW YORK (Reuters) - Bear Stearns Cos. Inc. BSC.N has about $35 million of exposure to two troubled hedge funds it operates, Chief Financial Officer Sam Molinaro said on Friday.

Mergers & Acquisitions  |  Bonds  |  Funds News

Molinaro spoke on a conference call after the Wall Street investment bank said it will provide up to $3.2 billion of secured financing for one of the two funds.

The company is negotiating with counterparties to help stabilize both funds, and reduce leverage in an orderly manner. Bear's financial position remains fundamentally strong, Molinaro said.
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