Dart is known for investments in
sovereign debt, concentrated and often contrarian equity positions, and campaigns for minority shareholder rights in emerging economies. •
Freddie Mac: In 1991, Ken Dart invested $300 million in the Federal Home Loan Mortgage Corporation “Freddie Mac”, a 10.8% stake.
Sovereign debt Dart has purchased the debt of numerous countries and participated in debt reconstruction. These include Ecuador, Ivory Coast, Mexico, Nigeria, Peru, Poland, Russia, Ukraine, and Venezuela. These investments did not entail disputes or result in legal action. Dart's high-risk approach drew attention when Dart signed on the proposed restricting package and selected an option based on uncollateralized bonds instead of U.S. Treasury-back low-interest bonds selected by other creditors. When Brazil amended its proposal to shift 35% of Dart's position into the discount bonds, Dart opposed the revised terms. The dispute was settled, and the restructuring closed, after Brazil agreed to pay a portion of Dart's overdue interest. Greek officials chose to repay Dart and other creditors in full for a total of €436 million, citing the country's lack of a government following inconclusive elections.
Argentina Argentina entered a deep recession in 1998 and in late 2001 defaulted nearly $100 billion in debt represented by more than 150 types of bonds. Citing unsuccessful attempts to begin negotiation discussion with Argentina's representatives which refused to negotiate for four years, Dart company EM Ltd. filed suit in the Southern District Court of New York in 2003 and was awarded a $700 million judgment for defaulted bonds a week before Argentine bondholders rejected a 25% redemption offer. The
Argentine debt restructuring was one of the longest sovereign debt restructuring processes in history followed with EM Ltd. rejecting restructuring proposals in 2005 and 2010. EM attempted to enforce judgements it received in the U.S. courts during that period. In 2013 creditors including EM Ltd. won a decision from the United States Court of Appeals for the Second Circuit in New York that rejected a repayment plan from Argentina, called for repayment to all bondholders and referred to the country as a “uniquely recalcitrant debtor”. EM accepted an offer Argentina made to six bondholders on February 1, 2016.
Other investments Russia In 1991, following the collapse of the Soviet Union, Dart was one of the first investors in the independent Russian state. Along with private investments into various sectors, Dart and his firm bought Russian bonds.
Yukos, the country's second biggest oil company, used stock issues to attempt to skirt creditors and minority shareholders in its subsidiaries.
Equity investments Dart owns a 5.9% stake in
Imperial Brands, and 7.9% in
British American Tobacco. The original investment was disclosed in 2020. By the end of 2024, returns exceeded £3 billion through share buybacks and dividends. Dart's investments reflect his belief in the tobacco sector's resilience. In 2024, Dart became a shareholder in Swedish online casino developer
Evolution AB. In 2025, he became the largest shareholder and increased his exposure to 25.44% through a swap agreement. In September 2025, Dart invested in a 5% stake in sports betting company
Flutter Entertainment. Additional investments in October 2025 and January 2026 expanded his exposure to 15%. == Community involvement ==