Hedge Fund Lender Reaps Returns on Fallen Companies Banks Shun

Bloomberg – Hedge fund manager Michael Tennenbaum, at age 74, plans to race down a giant slalom course on Vail Mountain in Colorado in March at the Directors’ Invitational Ski Classic, an annual event that pits pro skiers against business executives. Tennenbaum, who’s competed in the classic for 20 years, finds battling the gates on a slalom run almost as thrilling as his style of investing: making loans to money-losing companies.

“Ski racing is exciting,” the founder of Santa Monica, California-based Tennenbaum Capital Partners LLC says. “But there’s nothing more stimulating than investing.”

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