Fri, Feb 27, 2015
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: Very small CTA averages 6.90% per month since April’14 inception[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: There aren’t many one-man shops around in the hedge fund world but we talked to one. Andrew S. Peskin, who is ba

  2. Investing - Top U.S. hedge funds cut Apple stakes ahead of all-time high, John Paulson holds gold ETF in Q4 but cuts back on some miners, Hedge funds exited tumbling oil company shares late last year, Some top investors exit Herbalife, Soros added shares in fourth quarter, Moore Capital boosts U.S. financial holdings, reduces China bets[more]

    Top U.S. hedge funds cut Apple stakes ahead of all-time high From Reuters.com: Top U.S. hedge fund management firms, including David Einhorn's Greenlight Capital and Philippe Laffont's Coatue Management, reduced their stakes in Apple Inc during the fourth quarter, ahead of the iPhone mak

  3. Opalesque Exclusive: Skënderbeg launches four single-manager funds with Your Wealth AG[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Skënderbeg Funds AGmvK, an investment fund for qualified investors under Liechtenstein law (umbrella fund),

  4. Opalesque Roundtable: Many Swiss investors are questioning the value proposition of hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: There is a well-known transition among investors in hedge funds between high-net-worth individuals and institutional investors, Ian Hamilton, head of the IDS Group, said during the recent

  5. UCITS HFS Index starts year on positive note with 1.09% gains in January[more]

    Komfie Manalo, Opalesque Asia: The UCITS HFS Index started the year on a positive note gains of 1.09% in January after finishing 2014 with a modest performance of 1.62%. Index provider 2n20 said th