Icahn Doubles Down On Distressed Debt

May 13 2009 | 10:02am ET

Carl Icahn is bullish on distressed debt, and his hedge fund is snapping bonds, he told investors earlier this month.

The famed corporate raider sees a “once in a generation” opportunity in distressed debt, he wrote in a May 1 letter obtained by the New York Post. And he’s seeking to make the most of it, with some 42% of Icahn Partners’ portfolio now in bonds, compared to just 9% in stocks.

“Credit investments are becoming a larger percentage of the portfolio and we expect these investments to be a larger driver of returns this year than in years past,” he wrote.

Icahn didn’t name many names in the letter, but the veteran activist promised he would be “active in the names we have purchased.”


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note