Barclays is considering suing to recover more than $400 million lost in a Bear Stearns hedge fund that placed big bets on subprime residential mortgage-backed securities, according to the Wall Street Journal. Barclays had been an investor in Bear Stearns Asset Management's High-Grade Structured Credit Strategies Enhanced Leverage Fund, which is now worth nothing. Barclays also extended one loan for $200 million that has since been paid back, and offered to extend another loan for $250 million, which was never extended. In addition to its option to force litigation, Barclays may negotiate a settlement with Bear.
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|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||6,415||22||12.84|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||90,895.27||265||12.06%|
|3||Wells Fargo Securities||72,661.39||222||9.64%|