Former Credit Suisse bond trader Hamza Lemssouguer’s main $3.7 billion fund at Arini jumped 23.4% through the end of October, benefiting from bets against European manufacturers facing U.S. and China headwinds, said a source and an investor letter.
The year-to-date gains beat recent industry averages for hedge funds trading corporate debt, which have returned 9% over the same period, and distressed players, which are up an average of 11.5%, according to hedge fund research firm PivotalPath.
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