Thu, May 7, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Learning the art of vulture investing

Wednesday, December 05, 2012

Bailey McCann, Oplaesque New York:

Vulture investing often gets a bad rap when it comes up in public conversations. Recently, vultures have been back in the spotlight with the demise of poorly managed Hostess, and the all out war between Elliot Management and Argentina. Yet, the vultures themselves, like George Schultze of Schultze Asset Management, see an art to it, and perhaps even some benefit to the market. Schultze recently released a new book about vulture investing entitled, The Art of Vulture Investing in which he discusses how vultures choose their deals.

Schultze has been a true vulture investor for over a decade, and was labeled by President Obama one of the "Chrysler holdouts," for his involvement on the federally managed restructure of the US auto industry following the 2008 crisis. The Chrysler deal was the first time a CEO and the President of the United States announced a bankruptcy together and also the first time the President was directly involved in a managed bankruptcy of a private company.

"Things got a little hairy there," Schultze said in an interview with Opalesque. He explains that the priority scheme for the bankruptcy was fundamentally changed with the involvement of the federal government – a situation he illustrates in de......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges funds of hedge funds Alpha Titans, executives, and auditor for improper expense allocations[more]

    Update: Please note the important updated information at the end of the article.The Securities and Exchange Commission today announced charges against a Santa Barbara, Calif.-based hedge fund advisory firm and two executives involved in improper allocations of fund assets to pay undisclose

  2. Avenue Capital raises $700m for new energy hedge fund[more]

    Komfie Manalo, Opalesque Asia: Global hedge fund Avenue Capital Group, which manages $13bn in assets as at end March, reported that it raised an additional $700m for a new energy fund that it plans to launch in May. Avenue Ca

  3. Opalesque Exclusive: Carne establishes non-EU ManCo in Jersey[more]

    Benedicte Gravrand, Opalesque Geneva: For those managers who will not domicile their fund in the European Union (EU) and yet want to distribute it in the EU – especially the UK –, going under the wing of an AIFMD-compliant ManCo on the Channel Islands could be one of the ways to do it. Ch

  4. Opalesque TV: Aequam Capital: Asset management industry will be mainly quantitative going forward[more]

    Benedicte Gravrand, Opalesque Geneva: Before starting his boutique in 2010, Arnaud Chretien, co-founder and CIO of Aequam Capital, worked ten years as a market trader and 18 years as a quantitative and systematic fund manager for Soc

  5. Class-action lawsuit accuse hedge fund Standard General of holding American Apparel hostage[more]

    Komfie Manalo, Opalesque Asia: A shareholder class-action suit filed on Wednesday accused New York-based hedge fund Standard General of holding American Apparel hostage. It would reportedly reap huge benefits if the clothing company declared bankruptcy. Standard General is the controlling sto

 

banner