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Soros Hires Distressed-Debt Portfolio Manager

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NEW YORK (–Soros Fund Management recently recruited distressed-debt specialist William Seibold to the firm, according to a spokesman for Soros.

Mr. Seibold started his new post as portfolio manager at Soros Fund Management in Manhattan roughly three weeks ago, the Soros spokesman said. Mr. Seibold previously was a portfolio manager for Galboca Partners, a hedge fund group based in Greenwich, Conn., specializing in distressed-debt investing.

Soros officials declined to comment as to whether the post was newly created, or whether Mr. Seibold was replacing a departing manager. It was also unclear if the appointment represented a new direction being taken by Soros in regards to distressed-debt investing, an arena where many hedge funds have seen a deluge of new opportunities brought on by the bear market, while the same conditions have hurt existing holdings.