US Hedge Fund Davidson Kempner Buys $1.1 Billion UAE Bad Debt

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By Dana Khraiche

January 31, 2023 at 7:27 AM UTC

Updated on

January 31, 2023 at 8:47 AM UTC

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US hedge fund Davidson Kempner Capital Management bought $1.1 billion in bad debt from Abu Dhabi Commercial Bank PJSC as the lender cleans up a balance sheet battered by a series of corporate defaults.