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Persky’s Dalton hedge fund to bet on distressed debt

Reuters – Hedge fund manager Steven Persky plans to start betting on companies’ bad fortunes again.

Persky, who runs $1 billion hedge fund firm Dalton Investments, said on Wednesday he will re-launch his distressed debt strategy three years after liquidating two similar portfolios when the strong economy made such investing difficult.

Now that times have changed dramatically, Persky is among a handful of fund managers who expect to make money for their wealthy clients in the distressed area.

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