Aurelius Capital Management - more information about them and Ambac
Does anyone know anything about Aurelius? The only things I've found on them is that they're $2bn AUM and they're involved in the Ambac situation. I saw that someone asked about them earlier this year, but no responses.
Anything in particular you'd like to know? They are very reputable and are a distressed debt firm with an emphasis on legal issues (more so than other distressed shops). They've been involved in some headlines lately, including being the only creditor to not approve dubai world debt, buying chicago tribune credit...etc. they are heavily involved in monoline insurance litigation. It's a fairly small shop with about 6-7 analysts and a total staff of about 25, but all of the analysts are very legit, usually at least 2 years + of ibd + top mba (e.g. hbs) or jd/mba (e.g. penn).
PM me if you'd like some more info.
Aurelius Capital Management (Originally Posted: 08/02/2011)
Anyone have any insight into Aurelius Capital Management in NYC? Have an upcoming interview so any info would be much appreciated. Thanks in advance
They get pretty involved in activist distressed debt situations.
One recent one was where they called out TXU for having non-arm's length intercompany loans that allowed cash to leak from the secured entity to the holdco.
http://www.bloomberg.com/news/2011-02-26/txu-calls-aurelius-assertion-o…
Agreed, thanks for the insight.. definitely doesn't look like they play games
Were in the news about TXU again recently, trying to get statements about potential insolvency etc to be a triggering event for CDS because of impairment to some of the bonds. ISDA ended up nixing that, which is probably for the best as it would set a huge precedent that could impact tons of lower-quality credits.
Aurelius Capital (Originally Posted: 04/15/2010)
Do you guys know anything about Aurelius Capital? They seem to be an Asset Management firm with specialization in the credit markets. Any insights you might offer?
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