Wall Street, not American solar stands to gain from Donald Trump tariffs

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Wall Street, not American solar stands to gain from Donald Trump tariffs

January 25, 2018 Anand Gupta

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Another winner may be SQN Capital Management, a little-known Wall Street lender that gambled on solar and ended up helping finance the tariff push

The biggest winners of President Donald Trump’s decision to slap tariffs on imported solar equipment may not be American manufacturers but a group of investment houses around the globe.

Some of them are Centerbridge Partners LP, a New York firm that manages $14 billion in credit and distressed assets and is among the biggest creditors to solar manufacturer SolarWorld. Another winner may be SQN Capital Management, a little-known Wall Street lender that gambled on solar and ended up helping finance the tariff push. Other firms that are creditors to SolarWorld include Marathon Asset Management LP and Bank of America’s Merrill Lynch International, according to an insolvency-related document.