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The Blackstone Group has requested redemptions from Harbinger's credit fund, Mr. Falcone said.
Through the revolving credit fund, many Indians improved their economic position.
He is also advising a credit fund at TPG Capital run by Alan Waxman, a former colleague at Goldman.
Mr. Paulson's credit fund was down 18 percent, the Paulson Partners fund 10 percent and the gold fund 10.5 percent.
Fortress created a $3 billion credit fund in 2008 partly to buy loans from banks like Citigroup, which were under pressure to purge loans to raise cash.
Instead, the sponsor obtained the funding from non-banks Jefferies, Guggenheim, Apollo and Vista's own credit fund, as well as non-US-deposit-taker Nomura.
Similar(30)
Other financial institutions include investment credit funds, private pension funds, insurance companies, and securities firms.
Credit funds were up by a mere 0.2% in June, according to Credit Suisse.
Private equity credit funds earned six times their 2009 levels, with $158 million in fees.
Fewer loans are held by banks, perhaps only 20%, with much of the rest held by specialised credit funds.
Under New York law, employees must give their explicit consent before companies can credit funds to a payroll card.
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CEO of Professional Science Editing for Scientists @ prosciediting.com