Arini Capital Management Receives Junk Debt Bids Amid Flagship Fund Losses

Hedge fund Arini Capital Management has received bids on high-yield debt holdings from asset managers including Pimco and Oaktree Capital Management as losses mount.

Arini's flagship hedge fund, which managed $7.5 billion in July, is down approximately 26% this year through October 23 due to rising interest rates and higher energy prices.

The London-based firm has been selling liquid performing assets like Sabre Corp. debt to manage its portfolio, alongside raising $1.5 billion in new cash earlier this month.