Why Hedge Fund Managers Aren’t Playing the Detroit Bankruptcy — Yet

Managers are eyeing the city’s $18 billion of debt, but for now they are staying on the sidelines.

detroit-bankruptcy-thumb.jpg
detroit-bankruptcy-story.jpg
A protest sign outside a U.S. Courthouse in Detroit
Photo credit: (Bloomberg)

When Detroit’s financial woes sent the city into bankruptcy court this summer, distressed hedge fund managers perked up, sensing a potential opportunity in a field where new distressed corporate debt has been notably scarce.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.

Related