HG Vora Capital had a relatively flat first quarter, which is not bad since most other hedge funds did not have that luxury. The fund was up 0.3% last quarter as its long portfolio did well, but its short positions detracted. according to a letter to investors reviewed by ValueWalk.
Capacity of loan portfolio increased to $1.5 billion
HG Vora Capital Management is an event-driven fund with investments in both credit and equity. The fund bumped up the capacity of its leveraged loan portfolio to $1.5 billion after increasing it by $300 million in the first quarter. The leveraged loan portfolio currently has assets of $985 million.
In its long credit positions, the fund made money on Caesars Entertainment Operating Company's bank debt. The...
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