There has been chatter about another major hedge fund experiencing lots of trouble. Some thought a fund default might be likely. Cerberus cropped up in all the talk. Company officials tried to douse the flames, saying there was no truth to such speculation, notes Reuters. 

Such talk is understandable given the news that Cerberus has been hit by redemption requests for two funds that total $4.77 billion--that would amount to about 60 percent of the $7.9 billion managed by Cerberus Partners LP and Cerberus International LP. This is certainly bad news, but it may not signal a default. The firm is moving ahead with capital-raising plans for new funds. Last month it raised $1 billion for a distressed securities fund. 

For more:
- here's the Reuters article

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