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Distressed Managers See Opportunities, but Are Divided on Where

Some managers see U.S. defaults ticking up in 2014, but others think Europe will offer better opportunities.

       Daniel Arbess, Perella Weinberg PartnersA sizable number of distressed managers are expecting a somewhat worse year for corporate America in 2014, and they believe those troubles should translate into solid profits from investing in the debt of distressed companies. But other managers of distressed funds say the best opportunities remain

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