Friday, 6 March 2015
Last updated 6 hours ago
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.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…