23-12-2013 10:33 AM | Australia

Hedge funds eye troubled Australian miners and farmers

International hedge funds are increasingly targetting troubled firms in Australia, from cotton or macadamia farms to cattle stations and vineyards, expecting a nascent distressed debt market to generate double-digit returns.

Agriculture and mining, which combined account for around 12 per cent of Australia's $1.5 trillion economy, are two sectors particularly targetted by distressed debt investors -- sometimes known as vulture funds.

"There are many opportunities in investing in distressed debt in both sectors," said Vince Smith, leader of corporate restructuring at Ernest & Young in Sydney.
Full Story : Sydney Morning Herald