Jay spent 40 years in international finance, with a primary focus on managing investments in sovereign debt, including the distressed sovereign debt of Latin American, Eastern European, African, and Asian countries.  He is viewed as “the mastermind” behind an historic 15-year fight to recover billions of dollars in defaulted debt from the government of Argentina. That 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 was worth $2.4 billion, a gain of roughly 10 to 15 times the original investment. The New York Times reported that the return was “392 percent on the original value of the bonds.” The Financial Times said the settlement “is seen as one of the greatest hedge fund trades” in history.