A hedge-fund manager is demanding money back from an ill-fated investment in Ukraine before Russia’s invasion
Mr. Deitz’s VR Capital has a long history of making money in countries going through upheaval.
His fund paid $123 million in 2019 to buy distressed loans issued by state-owned Ukrainian Railways, hoping they could work out a repayment and get a double-digit return. But in May the Ukrainian government seized the investment as part of its sweep to nationalize Russian assets within its borders.
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