Wed, Sep 17, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

FRM Capital Advisors seeds event-driven hedge fund Eagle River

Wednesday, June 15, 2011
Opalesque Industry Updates - FRM Capital Advisors, the hedge fund seeding division of Financial Risk Management, and Eagle River Asset Management LLC have formed a strategic relationship under which FCA has made a significant investment in Eagle River’s fund. The investment will bring total assets under management at Eagle River to over $100 million.

Eagle River is a New York based hedge fund manager headed by Michael Pascutti. Michael was a founding partner at Sandelman Partners, where he and the Eagle River portfolio team ran a relative value portfolio. Prior to that, Michael spent five years with Citadel Investment Group, where he served as Head of U.S. Convertibles. He most recently ran a convertible bond portfolio at PIMCO, and earlier in his career was a Senior Portfolio Manager at Tribeca Investment and as a Portfolio Manager at CS First Boston. Michael has a BS from MIT and a PhD in Economics from Harvard. While at Harvard, he was a teaching fellow for corporate finance, statistics, money and banking and quantitative finance.

Eagle River is an event driven manager utilising fundamental credit research to profit from corporate events such as mergers, acquisitions, refinancings, litigation, tenders, and restructurings, including security optionality related to such events. The firm was founded in October 2010 and sees Pascutti re-united with two of his former colleagues Ben Esty and Jim McNeil. They are joined by Jonathan Bloom as COO and two further team members. The firm began managing external capital in May 2011.

Clive Peggram, CEO of FCA, stated, “Michael is one of the most talented fundamental credit managers in the industry and we are very pleased to support Eagle River. The long-term performance characteristics of event driven strategies are very attractive, and we expect prospects to remain strong for the foreseeable future. Not only is there a healthy level of corporate activity, but the pullback of banks from proprietary trading means there is less competition in event driven trades.”

Michael Pascutti, Managing Member and CIO of Eagle River, stated: “Our focus on the fixed income side of the corporate balance sheet sets us apart from other event driven managers. We believe our expertise in deciphering complex indentures and covenants allows us to identify and exploit clauses that other investors fail to catch. Our partnership with FCA provides a stable base of investment capital to employ our strategy and continue to build our infrastructure.”

FRM Capital Advisors:
FRM Capital Advisors is a division of Financial Risk Management (FRM), a global fund of hedge funds group managing approximately $9 billion worldwide for institutional and other sophisticated investors. FCA manages a seeding fund which makes strategic investments in emerging alternative investment managers. Additional information on FCA can be found at www.frmcapitaladvisors.com.

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,

  4. Indices - Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD), Eurekahedge Hedge Fund Index rebounds in August gaining 1.36% (4.22%), Lyxor Hedge Fund Index was up 0.9% in August (YTD +1.7%)[more]

    Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD) The Greenwich Global Hedge Fund Index ended the month of August up +1.57%. Equity markets were up in August with the MSCI World Index up +2.00%. This was primarily driven by the performance of the S&P 500 which was up +4.

  5. Alpha Strategic buys stake in Premium Point Investments[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Alpha Strategic plc, a affiliate of