As the struggling island nation of Puerto Rico grapples with its near $70 billion in debt, with most major investors participating in repayment negotiations, there is one distressed debt hedge fund notably absent from any talks that includes compromise considerations. what happens in Puerto Rico could also have bearing on the future of debt-ridden U.S. jurisdictions as well. Puerto Rico is one of many U.S.-based governments that has borrowed more money than can logically be repaid Aurelius Capital Management’s founder of the $4.5 billion distressed debt niche player, is a former bankruptcy lawyer and a Paul Singer protégée. Along with Singer’s…
As Puerto Rico Faces Dec. 1 Payment, "Vulture Fund" Refuses To Negotiate
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
Comments are closed.