Marathon Sees Prepa Debt Among ‘Best Ideas’ in Gundlach Echo
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Marathon Asset Management’s chief executive officer said debt of Puerto Rico’s public power utility is among the distressed-debt firm’s best investments.
“We think it’s a very high rate of return for Prepa,” Bruce Richards, head of the hedge-fund firm that manages about $12 billion, said in an interview on Bloomberg Television at the SkyBridge Alternatives Conference in Las Vegas. “It’s one of the best ideas that we have in our fund.”