ML-Implode News - We Can Finally Identify One Of The Largest Vulture-Holders Of Puerto Rican Debt

That mystery has finally been solved, with the help of the The Baupost Group, who unmasked themselves to The Intercept. The Baupost Group, a Boston-based hedge fund managed by billionaire Seth Klarman, owns nearly a billion dollars of Puerto Rican debt, purchased under a shell company subsidiary and hidden from public scrutiny. Baupost acquired the debt through an on-paper Delaware-based corporation named Decagon Holdings LLC, whose beneficial owner had been unknown until now.
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Julio Lopez, state director of Make the Road Connecticut and a member of the HedgeClippers coalition, which is organized to challenge the concentrated power of hedge funds, said the revelation of Klarman's involvement will have political ramifications.

"What's incredible about this is these people were actually hiding," said Lopez. "In the case of this person, he's in Boston which has a large Puerto Rican community ... Our work right now will be about activating our community in Boston, letting them know this person has been hiding and making sure we go to his houses and his companies to hold them accountable."
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Klarman, who has been described as the Oracle of Boston, has a history of buying unpopular or distressed assets on the cheap in hopes of a payday. Baupost manages over $30 billion in assets. He is known as the top campaign contributor in New England, and has been a major donor in Republican politics in Massachusetts, including largely secret support for 2016's Question 2, an ultimately unsuccessful effort to lift a state cap on charter schools.Â Klarman supported Hillary Clinton in 2016, calling Trump "completely unqualified for the highest office in the land."

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We Can Finally Identify One Of The Largest Vulture-Holders Of Puerto Rican Debt