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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.

       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. Natalie Cohen, head of municipal research

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