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Alternative Market Briefing

Former Eos, Alden Capital execs form new Connecticut-based hedge fund firm called MeehanCombs

Wednesday, April 25, 2012

From Precy Dumlao, Opalesque Asia:

Three experienced hedge fund executives have decided to join forces and launch a new hedge fund firm that will focus on investing in global credit opportunities, with an emphasis on Europe: Eli Combs, Matt Meehan and Jim Plohg formed this week MeehanCombs LP.

The creation of MeehanCombs came after Combs announced last week that he was resigning from Alden Global Capital, where he had been one of the founding members for four years and Randy Smith’s second-in-command.

Combs said in his resignation that he had a high level of respect for Randy Smith’s investment ability and that he would keep his investment with the firm. Alden recently registered with the SEC and completed a formal split from Smith Management, the Smith family office. It is led by John Ferguson who joined Alden last year. The IR and marketing team will be led by Marc Cali, who joined Alden in 2011 and was formerly head of marketing and IR for Third Avenue.

Combs cited the opportunity presented to him with the creation of MeehanCombs and added, "I will be joining my friend and former colleague, Matt Meehan. I will be the President of MeehanCombs, and Matt will be the Chief Investment Officer. Our new firm will be headquartered in Greenwich, a short drive from my home in Connecticut. My departure from Alden is reflective of this positive opportunity."

Meehan will also be the concurrent p......................

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