US hedge funds eyeing Billabong control: report

Centrebridge, Oaktree Capital take control of all of embattled group's loans.

Centerbridge Partners and Oaktree Capital Management have taken control of all Billabong International Ltd's loans, meaning the future of the embattled surfwear retailer will liklely rest in the hands of the United States hedge funds, The Australian Financial Review reports.

According to newspaper, sources report all seven of Billabong's original lenders had ceased ties with the emabattled group, following the reported departures of Bank of America and Societe Generale yesterday.

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