Silver Point, Diameter Scoop Up Cheap FTX Bankruptcy Claims in Lehman Redux
- Investors have scooped up at least $250 million of FTX claims
- Attestor, Hudson Bay have also taken positions in the debt
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Top distressed-debt investors are scooping up FTX Group claims on the cheap, betting that the company’s lengthy bankruptcy process will uncover additional valuable assets.
Silver Point Capital, Diameter Capital Partners and Attestor Capital are among investors who have bought more than $250 million worth of FTX debts since the beginning of the year, according to a Bloomberg analysis of court records. One recent trade saw Hudson Bay Capital Management buy a $23 million claim from a fortune cookie distributor, and sell about half of it to Diameter shortly after, court papers show.