Here’s Another Possible Way To Extract Value From PG&E’s Woes
Pacific Gas & Electric (PG&E) has been a controversial position among hedge funds for quite some time now. Several well-known funds went long on it late last year, and many of those positions lasted into 2019 despite the concerns of insolvency.
Q2 hedge fund letters, conference, scoops etc
However, there's more than one way to play PG&E, as some funds have demonstrated. Seth Klarman's Baupost hedged its PG&E bet by purchasing $1 billion in claims filed against the utility company by an insurer. Now another portfolio manager has presented yet another way to look for value related to the company's circumstances, which is through
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