Hedge Fund’s Buying Spree During Credit Slump Fuels 36% Return
- Ercil’s ARCM deployed 80% of $1.6 billion fund during selloff
- Most of it went into developed market investment-grade credit
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Distressed-assets specialist Alp Ercil went on a billion-dollar buying spree in March and April, bargain-hunting amid the indiscriminate selloff in credit markets, a person familiar with the matter said.
Ercil’s Hong Kong-based Asia Research & Capital Management Ltd. deployed almost 80% of the $1.6 billion raised for his latest fund in the two months, having sat on the sidelines for most of 2019 waiting for more attractive opportunities, the person said.