A New York-based value fund shop is planning to capitalize on the current market troubles. The Wall Street Journal
reports that Third Avenue Value Management
plans to raise a $3 billion to buy distressed debt. The fund is slated to be operational by the first quarter of 2009. David Barse
, president and chief executive officer of Third Avenue told The WSJ'sShefali Anand
that the fund will be aiming to have some control in the restructuring or re-org of the companies it will invest in.
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