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Hedging Failure Exposes Private Equity to Interest-Rate Surge

(Bloomberg) They’re the gilded class of high finance, whose shrewd bets and jumbo-sized paydays are the envy of Wall Street.Most Read from BloombergAlibaba Names Tsai Chairman, Wu CEO in Surprise Shake-UpTucker Carlson's Fox Defense Crumbled When He Took MillionsThese Are World’s Most Expensive Cities for High-Class LivingSingapore’s Grab Plans Biggest Job-Cut Round Since PandemicXi Tells Blinken ‘Very Good’ That Progress Made on US-China TiesYet for all their savvy dealmaking, even the titan

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