| Funds face paper losses on substantial investments this year in exploration-and-production companies. It is shaping up as a cruel summer for debt investors wagering on a rebound in the oil-and-gas business.
Funds managed by Franklin Resources Inc., Blackstone Group LP and Oaktree Capital Group LLC, among others, are facing paper losses on substantial investments this year in exploration-and-production companies. The sector is coming under further pressure as oil prices have turned downward again, dropping below $46 a barrel in New York to a four-month low...............................................Full Article: Source
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