Millennium Management is liquidating wagers made by credit trading specialist Jason Feasey after his bets on telecom network Altice caused losses at the hedge fund firm.
Feasey had built bets on Altice’s vast debt complex, according to people familiar with the matter. The positions swiftly moved against him after the telecom firm told creditors last month they would need to accept haircuts to help it meet leverage targets, said the people, who asked not to be named discussing non-public information.