April 1, 2010
In an unexpected piece of news today, a hedge fund that has taken on responsibility for much of Greece’s national debt, is hoping to negotiate a purchase of the Elgin Marbles from the British Museum to add to its asset portfolio.
Greek government in sovereign debt hedge fund deal
Author: Margie Lindsay
Source: Hedge Funds Review | 01 Apr 2010
London, April 1, 2010 – EXCLUSIVE – In a bold and unexpected move the Greek government has transferred its entire sovereign debt into three hedge fund vehicles. A further fund will receive Greek ancient monuments and a fifth ownership of several holiday islands in the Mediterranean, Hedge Funds Review has learned.
The hedge funds, all to be domiciled in the Cayman Islands, will pursue a number of strategies ranging from distressed debt to activist, according to sources close to the deal.
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