Jun
12
A Major Asset Manager Put a Price on Goldman’s Infamous ‘Hunger Bonds’
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‘Hunger bonds’ from Venezuela’s PDVSA marked at 33 cents
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Valuation level suggests a small profit for SEI’s fund
Goldman Sachs Group Inc.’s investment arm has $2.8 billion of bonds from Venezuela’s state oil company that don’t trade. Brokers have prodded investors on what they’d pay if the debt goes on sale. But so far there’s no clarity on price.
Until now.
One bondholder — SEI Investments Co., an Oaks, Pennsylvania-based asset manager — reported in a filing that the securities are worth 33 cents on the dollar at the end of last month. SEI came to hold $8.9 million of the bonds because Goldman Sachs Asset Management serves as a sub-adviser on a portion of its assets…
A Major Asset Manager Put a Price on Goldman’s Infamous ‘Hunger Bonds’
