Jay Newman

Jay Newman

Formal First Name
1951 - present

Jay Newman is a novelist and a former hedge fund portfolio manager who led one of the most notable hedge fund trades in history. He is a forty-year veteran in the field of international finance who has worked as a trader, investment banker, and investor. As a hedge fund manager, Jay’s primary focus was on managing investments in sovereign debt, including the distressed sovereign debt of Latin America, Eastern European, African and Asian countries. Jay retired from Elliott Management in 2018 but came back to the world of sovereign debt recovery in 2021, when he was hired by a group of shareholders of Telecommunications in India, a satellite and telecommunications company embroiled in a fight with the Government of India. Jay is the author of Undermoney, a financial/political thriller about dark money and global politics.


  • Jay is viewed as “the mastermind” behind the historic 15-year fight to recover billions of dollars in defaulted debt from the government of Argentina.

  • The campaign, which included the court-approved seizure of an Argentinian Navy ship in Ghana with 200 people aboard in 2012, reached a successful conclusion in 2016.

  • The Wall Street Journal reported that the settlement to Elliott was for $2.4 billion, “a gain of roughly 10 to 15 times its original investment.” 

  • The New York Times reported that Elliott’s return was “a 392 percent return on the original value of the bonds.”

  • Financial Times said the settlement “is seen as one of the greatest hedge fund trades” in history.



  • Undermoney is the first of three books in a series that Jay is developing.

  • The book is an electrifying thriller about a group of American operatives who secretly take over the world’s largest dark money fund.

  • Undermoney offers a savage look at the secret lives of the world’s richest people.