Davidson Kempner Books Profit of Up to 70% on Adani Bonds
- Firm spent about $500 million on notes during rout, later sold
- Spokesperson for Davidson Kempner declined to comment
Davidson Kempner made a profit of as much as 70% by buying Adani Group dollar bonds during the rout triggered by shortseller Hindenburg Research and later selling them when their prices recovered, according to people familiar with the matter.
The investment firm spent about $500 million on the notes of companies including Adani Green Energy Ltd. immediately after Hindenburg published its report in January 2023, said people, who requested anonymity because the information is confidential.