Coastal defends Billabong play

The hedge fund insists it is not a 'vulture' fund or 'serial pest'.

United States hedge fund Coastal Capital International has defended its investment in embattled surfwear retailer Billabong International (BBG), insisting it is interested in boosting returns for all shareholders, according to The Australian Financial Review.

The hedge fund's managing partner, Todd Plutsky, defended against suggestions it is a vulture fund and “serial pest”.

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