Distressed debt strategy: Dalton Investments

Hedge fund finds value in distressed companies

Jigsaw puzzle of a house

Steven Persky believes when opportunity knocks, you should answer. He is the founder, CEO and managing partner of Dalton Investments, set up in 1999, during the Asian debt crisis.

At that time Persky travelled to countries whose governments were collapsing, such as Indonesia, to find companies he thought were likely to survive. He found them.

In April 1999 the Asian debt fund had a 7.1% return. He and partner James Rosenwald were on their way.

Now Persky has turned his attention to the subprime