Business

A London hedge fund wants to get its money back from Ukraine


Ukraine is fighting for its survival and is in dire need of cash, but that hasn’t stopped London hedge fund manager Richard Deitz from reclaiming money from a bad investment there.

Mr. Deitz’s VR Capital has a long history of making money in volatile countries. His foundation paid $123 million in 2019 to buy hardship loans issued by state-owned Ukrainian Railways, hoping they could repay and get double-digit returns. But in May, the Ukrainian government seized the investment as part of a crackdown aimed at nationalizing Russian assets within its borders.



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