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Big asset managers adopt ‘vulture’ tactics in distressed debt fights
大型资产管理公司采用“秃鹫”策略介入不良债务纠纷

Loosening credit agreements mean traditional investors who once could avoid messy legal battles are having to evolve
“秃鹫”投资者通常以极低价格购买债务,以卷入复杂的法律纠纷,而像景顺(Invesco)这样的主流投资者现在也开始成为这种纠纷中的核心角色。

When Invesco bought the largest chunk of $620mn of apparently low-risk loans issued by heater and air conditioner parts maker Robertshaw in 2018, it seemed just like many investments the US asset manager had made before.

2018年,当景顺(Invesco)买下暖气和空调零部件制造商Robertshaw发行的6.2亿美元表面上看似低风险的贷款中的最大一笔时,这似乎与这家美国资产管理公司之前的许多投资一样。

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