Steve Feinberg, its notoriously reclusive boss, co-founded the firm in 1992 as a hedge fund that traded distressed debt.

Steve Feinberg是其幕后老板，这个臭名昭著的人在1992年和他人共同出资创建了这家对冲基金公司，开展对不良债权的收购。

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Its Global Opportunity Fund has returned 13.5% annually since 1999, and its Distressed Debt Fund has returned 7.3% since 2004.

FORBES: Dunking Distressed Debt

"The best way to defend their position in the private-equity space is to affiliate with a distressed-debt fund, " Bringewatt says.

FORBES: The Heirs Of Michael Milken?

Mr. Singer's fund specializes in distressed debt and bankruptcy situations, so perhaps he has reason to oppose changes to a system he knows so well.

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