Baupost Hedge Fund to Expand in Europe With London Office
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Baupost Group LLC, a $24 billion Boston-based hedge fund run by Seth Klarman, will open its first overseas office in London this year as the sovereign deficit crisis prompts a wave of distressed debt sales, two people with knowledge of the plans said.
Jim Mooney, a managing director at Baupost, will oversee the operation to tap investments mainly in commercial real estate, structured products, corporate and debt that trades at distressed levels, said one of the people, who declined to be identified because the move hasn’t been made public.