A new chapter for Sandalwood as the credit market bounces back
Mon Oct 5, 2009
Battered by last year's collapse in the credit markets, Sandalwood Securities has been buoyed by this year's market upswing and says the future looks rosy for its credit strategies with an event-driven edge
Battered by last year's collapse in the credit markets,
Sandalwood Securities has been buoyed by this year's market
upswing and says the future looks rosy for its credit
strategies with an event-driven edge
By Claire Makin
Last year was a lonely place for Sandalwood Securities. As
the only sizeable fund of hedge funds to specialise in credit,
Sandalwood battled on all fronts as valuations collapsed across
This year is a very different story. Credit and distressed
plays have soared off their lows, and most of Sandalwood's
underlying managers are posting double-digit gains, according
to Martin Gross, who founded the firm in 1990. "We are in a
total sweet spot for distressed debt investing and expect it to
continue for several years," he says.
Sandalwood is unable to confirm its numbers publicly for
legal reasons, but says that 2009 gains for some of its
managers have already outstripped 2008...
ISSN: 2151-1845 / CDC10004H
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