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Inside the Trade: Avenue, Others Find Opportunities in Barren Distressed Landscape

Though managers bemoan a lack of opportunities in the distressed sector, New York hedge fund firms such as Marc Lasry's Avenue Capital Group are getting creative and earning profits to boot.

Many distressed-debt managers have been singing the blues lately about a lack of opportunities. Given low interest rates and a modest economic recovery, there may not be enough distressed industries to go around in the U.S., while in Europe big banks are taking a long time to start unloading nonperforming

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