Biggs Admits He Was 'Naïve' About Syria

May 2 2011 | 1:00pm ET

Traxis Partners' Barton Biggs admitted that he was "naïve" about Syrian ruler Bashar al-Assad and would steer clear of the country until he's gone.

"I'm afraid with after what's happened we're going to have to have regime change," Biggs told Bloomberg Television about the country after last week's uprising. "It's going to be hard to put Humpty Dumpty back together."

Biggs' comments are a major about-face from two years ago, when he personally met with al-Assad, who has led Syria since the death of his father in 2000. Biggs said he was "very impressed" with al-Assad at the time.

Biggs said he wasn't completely wrong about Syria and al-Assad in 2009.

"We talked specifically about a sovereign-debt issue, a private equity fund," he explained to Bloomberg. "Syria's financial position is very strong. They have very little sovereign debt outstanding, at least in 2010. They have a public-sector surplus. Everything could have happened. There was a very favorable response from investors."


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note