The Story of Money
A hedge fund’s $8bn bet on Venezuela’s Citgo
This episode isn’t summarized yet
Create a free account and summarize it. In a few minutes you’ll have the key takeaways and a section-by-section summary.
Show notes
When the hedge fund Elliott Management pursued the acquisition of the oil refinery business Citgo a few years ago, the deal was already a complicated one. A US court had ordered its current owner, Venezuela, to sell the business, and the country was not happy about it. But, things only got thornier after the US President Donald Trump removed the Caribbean nation’s leader Nicolás Maduro. The FT’s US investment correspondent Amelia Pollard and hedge fund correspondent Costas Mourselas explain how Elliott often thrives pursuing complex deals, and how they might navigate closing this one.
Clips from Citgo, CNN, Norges Bank Investment Management, The White House, VTV
The FT does not use generative AI to voice its podcasts.
- - - - - - - - - - - - - - - - - - - - - - - - - -
For further reading:
Donald Trump’s removal of Maduro clouds fate of Elliott’s Citgo deal
Hedge funds hunt for Venezuela’s unpaid financial claims
- - - - - - - - - - - - - - - - - - - - - - - - - -
Follow Costas Mourselas on X (@CostasMourselas) and Bluesky (@costasmourselas.bsky.social). Amelia Pollard is on X (@ameliajpollard) and Bluesky (@pollard.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.