DE Shaw has set up an in-house team to acquire portfolios of distressed assets and other hedge funds holdings, Financial Times reports. The DE Shaw Portfolio Acquisitions Unit will look to capitalize on the discounts at which many illiquid assets are still trading.
The firm is interested in buying side-pocketed assets from other hedge funds. The DE Shaw unit will not manage its own fund but seek to find and analyze opportunities for investment, which can be passed over or split between its existing funds.
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