Persky’s Dalton hedge fund to bet on distressed debt
Thursday, May 7, 2009 : PermalinkReuters – 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.
Tags: 1-billion, dalton, debt strategy, distressed area, distressed-debt, economy, fortunes, fund-managers, handful, hedge-fund-manager, investments, money, persky, portfolios, reuters, wealthy-clients
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