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Article: Madison seeks out bankruptcy deals.
- Article from:
- Financial News
- Article date:
- July 21, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mike Foster
Madison Capital Management, the US investment management firm, is working to differentiate itself from other distressed debt specialists which have suffered by investing in listed bonds in stricken companies such as WorldCom.It is preparing to market a fund which will seek to profit from off-market bankruptcy opportunities, such as trade claims, as well as distressed debt and real estate obligations. According to analysts, Madison is capable of raising $100m ([euro]100m).
The firm does not employ gearing, but it has managed to secure its investors annual average returns of 33%, three times the hedge fund average, over the past six ...