In a subdued day for merger news ahead of the U.S. Thanksgiving Day holiday, weak credit conditions and scrutiny of buyout firms dominated the headlines.

** Blackrock, the asset manager 49-percent owned by Merrill Lynch, is set to manage a $75 billion fund being put together by U.S. banks to help struggling structured investment vehicles (SIVs), according to a report in the Financial Times.

** Britain’s private equity industry will face more scrutiny next month in front of the House of Commons Treasury Select Committee. On Dec. 11, the committee will listen to the views of David Walker, former Chairman of Morgan Stanley International and author of an industry-commissioned report aimed at making private equity firms more transparent.

** British bank Northern Rock has received more rescue proposals, but warned that one proposal was well below Tuesday’s closing price, sparking a new slide in its shares on Wednesday. Northern Rock was forced to go to the Bank of England for emergency loans two months ago, as the global squeeze on credit caused its funding strategy to collapse. That prompted the first run on a British bank since the 19th century.

** U.S. investment fund Lone Star put Japanese hotel operator Solare Hotels and Resorts Co Ltd. on the block in a deal that could raise more than $1.4 billion, sources familiar with the situation told Reuters. Lone Star hired real estate services firm Jones Lang LaSalle to handle the sale process. Blackstone is believed to be among several parties interested in Solare, the sources said.