Vulture circles indebted tech companies

Steven Tananbaum, GoldenTree Asset Management
Patrick T. Fallon | Bloomberg | Getty Images

Silicon Valley may still be chasing the proverbial unicorns of technology, but at least one big Wall Street investor is thinking more like a vulture.

Steve Tananbaum, a leading investor in the bonds of troubled companies, said the technology arena is one of the most interesting opportunities in the market today, given the high debt load carried by mediocre companies.

"One sector that hasn't gotten as much attention in the press but we think is very vulnerable is the technology sector," the chief investment officer of $23 billion GoldenTree Asset Management said Tuesday at the Milken Institute Global Conference in Los Angeles.