Hedge fund on verge of collapse

Carlyle Capital Corporation (CCC), a unit of the private equity firm Carlyle Group, has said it will not be able to meet lenders' demands for money.

The US mortgage-backed bond fund will collapse if, as expected, its lenders seize its remaining assets.

CCC's problems are the latest sign of the credit market turmoil that has prompted billions of dollars of losses at some of the world's biggest banks.