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DE Shaw Sets Up Distressed Assets Team

DE Shaw sets up an in-house team to acquire portfolios of distressed assets and other hedge funds’ holdings.

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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