Georges Soros gets his feet wet
Private equity giants continue sell-off, but world-famous investors wade in.
George Soros put his money in shipping in the first quarter of 2021, reports Trade Winds.
Regulatory filings show Soros Fund Management spent $39.3m during Q1 in acquiring Golar LNG’s 2.75% senior unsecured convertible notes, which are due next year.
Soros holds 40.25m of the notes, which accounts to about 10% of the bond issue. Private equity firm Oaktree Capital Management also holds around $8.3m of the same bonds.
The Hungarian-American billionaire follows in the footsteps of another high-profile billionaire, Michael Burry of “Big Short” fame, who acquired stakes in shipowners Golden Ocean Group, Genco Shipping & Trading and Scorpio Tankers during the first three months of 2021.
