Aurelius Capital Management
American hedge fund
From Wikipedia, the free encyclopedia
Aurelius Capital Management (Aurelius) is an American hedge fund, run by Mark Brodsky, a lawyer formerly employed by Elliott Associates.[3] Mark Brodsky graduated in Political Science at the University of Pennsylvania in 1974.
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| Company type | Private |
|---|---|
| Industry | Hedge fund |
| Founded | 2005 |
| Founder |
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| Headquarters | 1330 Avenue of The Americas, , U.S. |
| AUM | US$831.2 million (as of May 29, 2024) |
Number of employees | 14 (2024) |
| Website | aurelius-capital |
| Footnotes / references [1] [2] | |
History
In October 2013, Aurelius attempted to force the government of Argentina to pay their full agreement of $1.3bn following the 2010 Argentinian default on debt.[3] Critics characterize Aurelius as a "vultures" for their position on Argentine debt.[4]
Aurelius has been involved in debt restructuring of Dubai World and Tribune Co; and, in October 2013, The Co-operative Bank.[3] Aurelius led a push to apply $54 billion of Petrobas bonds governed by U.S. law in the state of New York.[5]
In 2015, Aurelius bought large amounts of Ukraine's government debt before securing a preferential deal on its restructuring.[4] Aurelius Capital became a central litigant in Puerto Rican government-debt crisis, following the island’s 2017 filing to restructure $72 billion in obligations. Aurelius, which held approximately $468 million in Puerto Rican debt, challenged the constitutionality of the federally appointed oversight board created under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).[6][7] In February 2020, Aurelius was among the hedge funds involved in a revised restructuring deal covering $35 billion in general obligation bonds. The agreement, reached after court-ordered mediation, offered Aurelius and other bondholders a higher recovery rate and resolved disputes over the validity of post-2012 debt issuances.[8]
