Growth in hostile territory

Convertible arbitrage

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While secrecy is still a common trait among much of the hedge fund community, familiar names that little more than a year ago were prominent in convertible bond arbitrage are now incommunicado for an altogether different reason. Emails bounce back, while attempts to contact some via a telephone call yields nothing but a disconnected tone. "A number of large arbitrage accounts have gone," says Michael Hintze, London-based chief executive of CQS, a convertible bond and capital structure arbitr