Davidson Kempner (DK), a hedge fund dubbed ‘boring’ by one of its competitors due to its solid but unspectacular returns and the low-profile style of the firm’s investment boss Tony Yoseloff, is approaching the $40bilion mark, according to a report by Bloomberg.
Davidson Kempner (DK), a hedge fund dubbed ‘boring’ by one of its competitors due to its solid but unspectacular returns and the low-profile style of the firm’s investment boss Tony Yoseloff, is approaching the $40 billion mark, according to a report by Bloomberg.
The $38 billion multi-strategy hedge fund is now among the world’s largest, with funds under management having increased eight-fold since 1999, the year after Yoseloff arrived at the firm as an intern.
Recent investment successes include a $500 million-plus return on last month’s $8.5 billion sale of MGM to Amazon, one of the firm’s longest-held positions with DK having originally acquired MGM’s debt back in 2009, before becoming a substantial equity owner when the company exited court protection following a pre-packaged bankruptcy.
