Hedge fund Diameter made a “huge profit” from its previous purchase of FTX bonds
Hedge fund Diameter Capital Partners has made a "profitable" bet in its bankruptcy proceedings after FTX's collapse. The institution initially purchased FTX debt with an expected return of over 20 cents per US dollar, which has now soared to over 100 cents. This transaction was the biggest contributor to Diameter's two key fund returns in the second quarter. (Bloomberg Law) In March, Bloomberg reported that six institutions in the non-performing investment field (all large global non-performing asset investment institutions) had purchased a total of approximately US$1.265 billion in FTX debt, with Attestor purchasing a nominal claim amount of US$394 million, Farallon for US$259 million, Baupost for US$239 million, Oaktree for US$143 million, Diameter for US$128 million, and Silver Point for US$102 million.
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