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Monday, May 16, 2016

Echoes of Third Avenue?

News summary by MFWire's editors

Don't look now, but the Third Avenue Focused Credit Fund might soon be joined by more fallen junk bond funds.

Joshua Friedman
Canyon Capital Advisors
Co-Founder, Co-Chairman & Co-Chief Executive Officer
Josh Friedman of the $21-billion hedge fund shop Canyon Capital Advisors tells Bloomberg that he's "worried about the high yield rally."

"It's entirely possible that we will see more Third Avenues," Friedman reportedly says.

Third Avenue barred the exits from the collapsing Focus Credit Fund in December. 

Edited by: Neil Anderson, Managing Editor


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