Seth Klarman thinks issues are gonna get fairly dangerous, which implies they’re already dangerous for one in 5 members of his Baupost Group’s investing workforce. Eleven of them have been given their walking papers, the most important layoff within the Boston hedge fund’s historical past, and its first vital discount since pandemic days.
The true property workforce, led by accomplice Nick Azrack, will focus extra on properties with damaged capital buildings, distressed debt or asset re-positionings, in line with folks aware of the matter. Till now, the agency had invested broadly within the sector. On the equities aspect, Baupost decided IT had too many analysts, the folks stated.
Hedge Fund Baupost Cuts Almost a Fifth of Investing Staff [Bloomberg]
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