The End of an Era for Credit Managers

With the easy pickings mostly gone, many credit-focused managers will need to expand their tool kits beyond buying legacy assets — and not all will be up to the task, market observers say.

Christopher Acito, Gapstow Capital Partners

Credit and debt hedge fund managers who feasted on bargain-priced structured securities after the financial crisis will face significant challenges in the coming year now that legacy issues have generally returned to more normal values, market participants say.

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