Tue, Jul 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Waterstone Capital Management launches distressed fund

Wednesday, March 28, 2012

Bailey McCann, Opalesque New York:

Waterstone Capital Management, L.P. a Minnesota-based credit hedge fund manager is launching a distressed debt fund. The fund - Waterstone Distressed Opportunities Master Fund, Ltd. will use a distressed debt strategy carved out from the firm’s flagship Waterstone Market Neutral Master Fund, Ltd and will launch on April 2, 2012.

Chief Investment Officer and firm founder, Shawn Bergerson, and Portfolio Manager Kevin Cavanaugh, will manage the fund. Kevin Cavanaugh, portfolio manager, has 12 years of investing experience from Greenwich Capital (RBS) and JP Morgan. Shawn Bergerson, chief investment officer, has 24 years of credit experience and a 12 year public track record annualizing more than 14%.

The new fund will remain consistent with Waterstone’s existing strategy of being directionally long in performing markets, directionally short in underperforming markets. According to managers, the goal of the fund is to exhibit less downside than conventional distressed funds and offer more liquidity. Waterstone has noted that the fund will incorporate more single name shorts than other distressed funds.

The fund will have two dedicated distressed analysts from Stark and Quattro, along with a six sector specialists, one quantitative risk analyst and two traders. The traders will come from within Waterstone’s existing staff and have an existing track record together. Berger......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe