Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people with knowledge of the matter. The payout yielded Baupost’s biggest profit generator last month and represented a sizable markup… Continue reading Hedge Fund Baupost Collects $3 Billion Wagering on PG&E’s Wildfire Claims
Tag: hedge fund
Hedge Fund Baupost Has a Complex $1 Billion Bet on PG&E
Seth Klarman’s Baupost Group has been the poster child of the hedge fund industry’s ill-timed stock-market bets on the troubled utility PG&E Corp., which announced plans for bankruptcy. It turns out, though, that Baupost’s stock purchases, valued at $873 million at the end of September, are just part of a bigger and more complex wager… Continue reading Hedge Fund Baupost Has a Complex $1 Billion Bet on PG&E