Hedge funds and distressed debt specialists are scooping up Adani Group’s dollar bonds, while traditional asset managers are ditching their holdings on the back of short-seller Hindenburg Research’s damning assessment of the business, according to a report by Bloomberg,
Hedge funds and distressed debt specialists are scooping up Adani Group’s dollar bonds, while traditional asset managers are ditching their holdings on the back of short-seller Hindenburg Research’s damning assessment of the business, according to a report by Bloomberg,
Oaktree Capital Management, one of the world’s largest opportunistic debt firms, and Davidson Kempner Capital Management, which manages about $38 billion of assets, are among the funds that have reportedly bought into Adani’s bonds.
According to local media reports, global special situations funds and US-based distressed debt managers now collectively own close to $1 billion of the Indian industrial conglomerate’s foreign currency bonds.
