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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 PartnersCredit 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. Christopher Acito, chief executive and chief investment officer

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