DE Shaw, one of the largest hedge funds in the world ($28 Billion AUM), announced today that it is setting up a team to examine buy distressed assets from other hedge funds. The fund will be called DE Shaw Portfolio Acquisitions Unit.
D.E. Shaw, The Financial Times said, is particularly interested in snapping up distressed assets that other hedge funds have “side-pocketed,” or split from their healthy assets, in order to keep them from affecting returns.
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