Sat, Oct 1, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The art of vulture investing, a new book explains what being a vulture fund really means

Friday, February 01, 2013

Bailey McCann, Opalesque New York:

Vulture investors have been making a lot of news of late, and for those that might be interested in learning more about what a vulture fund really is, good news – there’s a book for you. George Schultze the CEO of Schultze Asset Management recently released a book entitled, The Art of Vulture Investing. The book offers a detailed account of how he made a career out of investing in troubled companies and what it takes to be successful. Schultze recently sat down with Opalesque TV to discuss the book, and his career.

"We do it a certain way, we short companies on their way into distress and into trouble. When they are in trouble, we focus more on their loans and their bonds that trade at a discount. And then after they have reorganized, we also invest in the equity of these companies, called post-reorganization equity," Schultze explains.

Schultze Asset Management has been working on this formula since it was founded 15 years ago. Schultze himself is a lawyer as well as a financial professional. His firm was involved with the Chrysler bankruptcy during the financial crisis and was dubbed one of the "Chrysler holdouts," by President Obama. He says that this experience was one of the catalysts that pushed him to write a boo......................

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. Opalesque Exclusive: BlackRock taps Artivest for alternative investment platform partnership[more]

    Bailey McCann, Opalesque New York: BlackRock will be working with New York-based Artivest to provide a platform for broader distribution of BlackRock alternatives funds. Artivest is a technology-driven alternative investment platform that also offers brokerage services. BlackRock has approximatel

  2. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as

  3. "Hedge fund industry needs to shrink"[more]

    Komfie Manalo, Opalesque Asia: Writing for CNBC, Josh Brown, creator of The Reformed Broker blog and financial advisor for Ritholtz We

  4. Strategy - Voyager Management wants to invest in smaller hedge funds[more]

    From Valuewalk.com: Voyager Management, a $475 million fund of funds, is looking to downsize the hedge fund’s in which they invest, looking for smaller funds with assets under management that enable the fund to be nimble. The fund is looking for noncorrelation and will consider long / short equity

  5. Asia - Quant hedge funds are China's hot new export, Europe banks return to Korean brokerage market; target debt, alternative products[more]

    Quant hedge funds are China's hot new export From Bloomberg.com: Add China’s quant shops to the list of hedge funds branching out across Asian markets. Quantitative money managers from the world’s second-largest economy are opening offshore funds at a never-before-seen pace, according to