The Wall Street Journal reports that Michael Hintze's hedge fund CQS is one of a growing group of investors returning to Greece. According to the article, investors are attracted by the high returns offered by many of Greece's battered assets:
"We have been constructive on Greece since Angela Merkel's visit to Athens in October last year. It was a strong signal of support for the euro project," said Michael Hintze, chief executive of credit specialist CQS in London, which has $12 billion of assets under management.
In October, following Ms. Merkel's announcement, Mr. Hintze bought bonds of Hellenic Telecommunications Organization SA. In January, the company issued €700 million of debt with an interest rate of 7.875%. Mr. Hintze added to the position in February.
Read the article at WSJ.com (subscription required).