The Financial Times reports that Goldman Sachs is close to finalising a restructuring of the $7 billion SIV formerly known as Cheyne Finance and managed by Cheyne Capital. It says the assets of the SIV, which is in receivership, will be sold at market price to a new vehicle in which senior SIV investors will be invited to invest.

The article says that Goldman also has the mandate to restructure the Golden Key, Mansail, Whistlejacket and Rhinebridge SIVs.