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Hedge Funds Are Among the Winners of the Lehman Spoils

Yahoo – Lehman Brothers Holdings Inc.’s historic bankruptcy burned the once-highflying securities firm’s investors, employees and many others. But five years later, a group of hedge funds has found a way to profit handsomely from it.

In the past 18 months, billions of dollars in distributions from the Lehman bankruptcy estate have been paid to investors—including Elliott Management LP and Paulson & Co.—that snapped up claims in the years following the firm’s collapse, according to company documents, court filings and people familiar with the matter.

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