The Managed Funds Association, the hedge fund industry group, also came out against using the loans, though somewhat less stridently.
“While we recognize that every manager must make their own decision about the viability of their firm, we have provided guidance to our members that we do not believe the money in this program was intended for managers general partnership interests,” Bryan Corbett, president and chief executive of the organization, said in a statement.
This article was provided by Bloomberg News.