Sun, Apr 20, 2014
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

Banner
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: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo