The distressed cycle in Europe is expected to be deeper and longer than any previous periods. This spells opportunity for hedge funds exploiting debt. One fund that has had success in this area is the GLG European Distressed Fund.
GLG estimated in May 2010 that the European distressed debt market was worth between €220 billion–€300 billion ($262.5 billion–$393.7 billion). The fund uses long/short positions in the capital structures of distressed and stressed credits where the recovery or
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