Fri, Dec 19, 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 win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar