American hedge fund Davidson Kempner bought a portfolio of bad debts worth 4 billion dirhams from a commercial bank in Abu Dhabi.
According to Bloomberg, the portfolio consists of 44 loans to small and medium-sized companies based in the UAE.
The hedge fund did not disclose the price at which it bought the bad debts, knowing that bankrupt NMC Health Group is Abu Dhabi’s biggest commercial debtor, with more than AED3.6 billion.
