CNBC - Venezuela bond bets pay off as Maduro’s overthrow brings 30% gain.

This hedge fund says there’s more ahead

By Hugh Leask

TThe revival of Venezuela’s oil industry presents investors with a major opportunity in the country’s defaulted debt, according to a firm that generated a 30% gain after the country’s president, Nicolas Maduro, was captured by U.S. forces on Saturday. The Wall Street Journal reported Tuesday that U.S. President Donald Trump plans to meet with oil companies Chevron , ConocoPhillips and Exxon Mobil , along with other domestic producers, on Friday “to discuss making significant investments in Venezuela’s oil sector.”

Speaking to CNBC on Thursday, Lee Robinson, founder and chief investment officer of Monaco- and London-based distressed debt investor Altana Wealth, said new money would be required to rebuild Venezuela’s oil infrastructure and return to peak production levels of around $100 billion revenue, with that coming predominantly from U.S. bond investors. “They will therefore want to have a share of those profits from that oil industry,” Robinson told CNBC’s “Squawk Box Europe.”

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