FTX Claims Are Luring Some Big Players in the Distressed Market
- Baupost Group, Oaktree among investors that inquired on claims
- The nascent market is heating up, but trades remain small
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The remains of Sam Bankman-Fried’s former empire FTX Group are drawing interest from some of the largest names in distressed investing, in a daredevil bet that heavily discounted creditor claims on the bankrupt cryptocurrency conglomerate will ultimately pay off.
Baupost Group and Oaktree Capital Management are among those that have inquired about the claims of FTX customers with assets stuck on the exchange, said a person familiar with the matter who declined to be identified as the discussions were private.