Steve Tananbaum built one of the best-performing hedge funds of the past two decades by constantly building out new capabilities, from distressed debt to emerging markets. His firm, GoldenTree Asset Management, grew to almost $47 billion in assets. Now, as inflation, rising rates and geopolitical volatility roil financial markets, Tananbaum sees new opportunities in crypto and private credit. In this interview, he discusses the shifting environment, how to capitalize on those changes, the evolution of distressed investing, GoldenTree’s best-ever trades and the reasons not to sell. He spoke exclusively with Erik Schatzker on Bloomberg’s “Front Row.”
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