(Reuters) Baupost Group, one of the world’s biggest hedge funds, owns nearly $1 billion in Puerto Rican sales tax debt, a spokeswoman confirmed on Wednesday as the island’s debt tumbled in the wake of suggestions from President Donald Trump that it may be erased. Baupost, which invests $30 billion for endowments and other wealthy investors, owns roughly $911 million in Puerto Rico’s so-called COFINA bonds, which are backed by a chunk of the island’s sales-tax receipts, spokeswoman Diana DeSocio said.
Hedge Fund Baupost Owns $911m in Puerto Rico Debt
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