Wall St underestimates private capital problems, says top credit hedge fund

The private capital industry’s problems are far worse than Wall Street has acknowledged, as traditional metrics obscure weaknesses in the leveraged buyout market, according to a top credit hedge fund. A “substantial portion” of the private equity industry is already “stressed or distressed”, said Tony Yoseloff, managing partner and chief investment officer at credit hedge fund Davidson Kempner Capital Management. READ MORE