Och-Ziff, York Say Not Involved In Greek Debt Talks

Jan 20 2012 | 10:30am ET

Och-Ziff Capital Management and York Capital Management say they do not have significant investments in Greek sovereign debt and have not be involved in negotiations to restructure the country’s debt.

Reuters, citing sources closes to the talks, had reported the two were among five hedge funds holding a significant chunk of the $260 billion in Greek bonds held by creditors. On Friday, the agency published statements by both funds denying involvement in the talks or significant exposure to Greek debt.

"York's holdings in Greek Government bonds have never been of any material size, and York has never been involved in negotiations surrounding the exchange offer and has no intent to do so," York said in a statement.

Och-Ziff said in an emailed statement: "The Company and its funds do not have a material investment in Greek sovereign debt. The company and its funds have not been involved in any way in negotiations concerning the restructuring of this debt."

The Greeks want the funds to take an over-50% haircut on those holdings and Greek Prime Minister Lucas Papademos has threatened to force them to accept the losses by law if a deal cannot be reached. Without a deal, Greece could default on its debt as soon as March, with potentially catastrophic consequences for the global economy.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...