A “widespread global depression” may be pretty “close to a guarantee” now that Donald Trump is president, but Paul Singer has come to terms with it and the man who will make it happen. He even thinks there might be some money to be made from it. That’s where you come in: Elliott Management’s current $32.8 billion is already tied up in prisons, exploding cellphones, IT outsourcing and atrociously-run aerospace and automative parts makers. To take advantage of whatever opportunities should present themselves in the wake of a presidential tweetstorm, deregulatory bonfire or thermonuclear war, he needs some new cash at the ready.
Investors will be able to start committing their money to the multistrategy hedge fund in the second quarter, said one of the people, who asked not to be identified because the information isn’t public. The capital may be put to work within two to three years….
The last time Elliott opened to fresh capital in this manner was in 2015. It raised $3.8 billion that year….