“Baupost is also well known as a distressed-debt investor, profiting from trades such as Lehman Brothers Holdings Inc.’s bankruptcy. In that investment, the Lehman bankruptcy estate eventually distributed billions to investors, including hedge funds that snapped up claims following the firm’s collapse.
Baupost counts major university endowments and foundations among its clients and has averaged 16% returns a year since its 1982 inception. It was roughly flat to down less than 1% last year, Mr. Klarman wrote in his annual investor letter.”
Seth Klarman’s first investors were his Harvard Business School professors.
Post by Marcelino Pantoja