Matthew Attwood, editor, Credit magazine: Given the problems we have seen in the credit markets over recent months, when can you see hedge funds coming back?
Jonathan Laredo, partner, Solent Capital: If by coming back you mean acting as an alternative lender to the banking system, I'd say a long time. You'd be looking at 12 months, at least.
MA: And what will have to happen before they do?
JL: Well, credit-based hedge funds will continue to trade, but I don't think they will play the role of an alt