Bass Said to Start Separate Fund for China-Related Trades
- Bass has said China banks may see losses worse than subprime
- Manager is said to plan calls with investors in coming days
Kyle Bass.
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Kyle Bass, the hedge fund manager predicting massive losses for Chinese banks because of nonperforming loans, is raising money to start a dedicated fund for bets in the country, according to a person with knowledge of the matter.
Bass, the founder of Dallas-based Hayman Capital Management, will be holding calls with investors over the next few days to provide more details, said the person, who asked not to be named because the matter is private. As of mid-February, Bass already had about 85 percent of his main fund’s portfolio in China-related trades, he said at the time.