Hedge Funds as Investors of Last Resort

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How researchers see this paper

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Syndicated Loan Spreads and the Composition of the Syndicate (2012, unknown): “Our findings parallel those of Brophy, Ouimet, and Sialm (2009), who find that hedge funds’ equity investments are typically to firms that otherwise would have trouble raising capital.”
What Are We Meeting For? The Consequences of Private Meetings with Investors (2015, unknown): “Although the number of meetings is higher in our sample, the number of days 8 Hedge funds also appear to trade at the expense of distressed mutual funds (Chen et al. 2008) and are able to negotiate substantial discounts in private-equity deals (Brophy, Ouimet, and Sialm 2009).”
Winners in the Spotlight: Media Coverage of Fund Holdings as a Driver of Flows (2014, background): “Finally, our evidence on fund investors adds to the broader literature on individual investment decisions, recently examined in Barber and Odean (2008), Brown et al. (2008), Ivković, Sialm, and Weisbenner (2008), and Kelley and Tetlock (2013).”
Financing Under Extreme Risk: Contract Terms and Returns to Private Investments in Public Equity (2010, background): “Other studies of PIPEs, as opposed to discount only private placements, include Hillion and Vermaelen (2004) that focuses on reset contracts and Brophy, Ouimet, and Sialm (2009) that investigates the role of investor identity in this market.”