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Alternative Market Briefing

Alden Global Capital makes two new hires

Friday, June 20, 2014

Bailey McCann, Opalesque New York:

Alden Global an opportunistic, event-driven hedge fund managing $2bn in assets has made two new hires - Marc Mendelson and Ben Belfer. Both men will come on as Managing Directors in the Investor Relations Team.

Prior to joining Alden, Mendelson was Head of the Americas of the J.P. Morgan Capital Introduction team. In his new role, he will focus on institutional investors.

Belfer was previously with Third Avenue Management, where he focused on business development and client service for Alternative Investments. At Alden he will spend his time on the family office, multi-family office and high net worth channels.

Alden Global was created in 2007 by Randall Smith, a distressed debt manager. Alden has been in the news lately for its involvement in news media in Salt Lake City, Utah. At issue is the operation of Deseret News a Mormon-backed news outlet and the Salt Lake City Tribune a non-religious news outlet, which operated under the same parent company. In 2011, Alden effectively bought the Tribune part of the company, and as the complaint alleges received a substantial payment from the Deseret News side. Tribune supporters say that a joint operating agreement signed in 2013 effectively gutted the Tribune, leaving only Mormon backed media in the city. Supporters of the Tribune are seeking an injunction on the agreement as part of an effort to revive independent news in Salt Lake.

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