Hedge Funds Have Big Exposure to California Utility PG&E

It is not clear yet how the state’s historic wild fires will impact the company’s bottom line — or those of the hedge funds invested in the utility.

November 13, 2018

Pacific Gas & Electric Co. employees work to fix downed power lines burned by wildfires in this aerial photograph taken above Santa Rosa, California (David Paul Morris/Bloomberg) — Pacific Gas & Electric Co. employees work to fix downed power lines burned by wildfires in this aerial photograph taken above Santa Rosa, California

Shares of utility giant PG&E, the parent company of Pacific Gas & Electric, have been plummeting during the past few trading sessions as the deadliest California wild fires on record have intensified — and hedge funds, including several prominent ones, have been among the biggest losers.

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