Alden Global lags 2009, waits for "realization"
By Britt Erica Tunick
Wed Aug 18, 2010
Distressed guru Randall Smith had a spectacular 2009. This year's gains could require more patience.
Though Alden Global Capital generated blockbuster returns in
2009, the firm has struggled to repeat those gains this year.
The Alden Global Distressed Opportunities Fund is up only 2.9%
through July, a far cry from its 186.9% return for 2009. The
fund fell 11.7% in May and another 8.4% in June, though it
returned to positive territory for July with a gain of
The firm was launched in October 2008 by distressed-debt
market expert Randall Smith, who helped train some of the
industry's most notable names, including Avenue Capital Group
chairman Marc Lasry; Jim Bennett of James Bennett Management;
and Smith's son-in-law, Doug Teitelbaum of Bay Harbour...
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