Hedge Funds Betting On Spread of Sovereign Debt Crisis in Euro Zone
|July 11th, 2011||
|Hedge funds focused on Europe believe that the sovereign debt crisis is set to spread beyond Greece, to Portugal, Italy, and Spain. Bloomberg News reports that hedge funds are evaluating trades that reflect their pessimism on sovereign debt and its fallout on discretionary consumer spending.|
Bruce Richards’ $10 billion Marathon Asset Management LP is doing its due diligence on distressed real estate and corporate debt held by ailing banks in Euro zone countries.
Nick Swenson of Minneapolis-based Groveland Capital LLC also believes Italy and Spain face more trouble ahead and is betting against their sovereign debt through credit-default swaps.
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