New York – (HedgeCo.net): According to a story published in today’s Financial Times, hedge fund firm DE Shaw is positioning itself to purchase portfolios of distressed and illiquid assets. The firm, which counts about $28 billion in assets under management, launched the DE Shaw Portfolio Acquisitions Unit last year in order to acquire stakes directly from other hedge funds.
The new unit will not run its own fund, but rather will analyze investment opportunities in “side-pocketed” assets at other firms for allocation to its existing strategies. Presumably, DE Shaw will try to acquire these assets at discounts as other firms look to sell off illiquid assets and abandon investments whose valuations have not improved significantly in recent months.
DE Shaw runs a number of sub-strategies, most of which feed into its Oculus fund and the DE Shaw composite fund.
Dave Thompson
For HedgeCo.net
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