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Greywolf Posts Strong Gains with Net Short Stance

The Purchase, New York–based credit manager’s bearish stance is paying off, with the firm’s funds up by double digits through the first quarter.

One of the best-performing hedge funds so far this year is net short. The $1 billion Greywolf Capital Overseas Fund, managed by Purchase, New York-based Greywolf Capital Management, posted a 9.5 percent gain in the first quarter and was up more than 12 percent through the end of April. At the end

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