The investment firm of George Soros bought some $351 million worth of companies sold off during the Archegos collapse, Bloomberg reported.
- Soros Fund Management took in $194 million of ViacomCBS Inc., $77 million of Baidu Inc., $46 million of Vipshop Holdings Ltd., and $34 million of Tencent Music Entertainment Group.
- The acquisitions were made in the first three months of the year. The fund was not in possession of the shares prior to the Archegos fallout.
- Bill Hwang’s Archegos Capital Management Soros Fund Management Chief Investment Officer Dawn Fitzpatrick last month said she was willing to bet on dislocations in the market.
- The investment firm infused some $4 billion on firms even with the COVID-19 pandemic. This includes residential mortgages.
- Fitzpatrick said the fund is prepared to “not just double down but triple down” when facts and circumstances support it during a dislocation.
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