Having been described by Fortune magazine as one of the hedge fund industries “smartest and toughest money managers,” Paul Singer has, over the years, developed a reputation in the industry as being highly-powerful. The Independent referred to him as “”a pioneer in the business of buying up sovereign bonds on the cheap, and then going after countries for unpaid debts,” and he has also been termed a “vulture capitalist,” vis-à-vis his hedge fund which is sometimes referred to as a “vulture fund.”