Tue, Jul 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Eckert, Gerson and Reeves form new credit-focused asset management firm called Phoenix Star Capital

Thursday, May 30, 2013
Opalesque Industry Update – Phoenix Star Capital’s founders, Alfred C. Eckert III, Russ D. Gerson and Oliver W. Reeves, announced today the launch of a new asset management firm. Phoenix Star Capital will pursue investment opportunities across the leveraged loan and high yield bond markets. The firm’s founding partners - Mr. Eckert and Mr. Gerson - have enjoyed a personal and professional relationship for many years. Mr. Reeves was a key member of Mr. Gerson’s investment team in his Sovereign Advisory Business.

The firm launches with US $100 million of capital and will initially structure, manage and invest in CLOs and BDCs. Phoenix Star intends to expand its operations by establishing a distressed debt trading fund and a control oriented distressed debt fund. In addition, Phoenix Star will provide consulting and corporate development services to the financial services industry.

Mr. Eckert will lead Phoenix Star Capital, LLC and be its Chief Investment Officer. He has 40 years of experience in the finance industry and is a recognized expert and leader in the structured finance, LBO and the financial distressed arenas. Previously, he was the Chairman and Chief Executive Officer of GSC and its predecessor Greenwich Street Capital Partners, Inc. Prior to GSC, he was a partner at Goldman Sachs and formed its first LBO fund in 1984 and its initial control-oriented distressed fund in 1988.

Mr. Gerson will lead Development and Investor Relations for Phoenix Star Capital, LLC. During his 30-year career in the financial services industry, he has risen to become one of the most influential corporate development professionals in the United States. His abilities to source talent and raise capital were publicly recognized when he was chosen to lead the Transition Planning and Presidential Appointment Process for Senator John McCain. He was also a Senior Advisor to Mitt Romney’s Presidential Transition Planning Group.

Mr. Reeves will work closely with Mr. Eckert to identify and analyze investment opportunities as a member of Phoenix Star’s Investment Committee. Prior to joining Mr. Gerson in 2010, Mr. Reeves received his MBA from Columbia Business School where he completed the highly- selective Value Investing Program. Prior to Columbia Business School, Mr. Reeves was an investment analyst at Coliseum Capital Management, where he developed experience investing across the capital structure.

"Our immediate focus is to structure and market our first CLO in the early part of 2014 followed by additional CLOs and the purchase of equity in existing CLOs and BDCs,” said Eckert.

"Phoenix Star’s vision is to be at the forefront of the complex credit, investment and financial industry, combining the talents of our founders with a ‘best in class’ investment and operations team,” said Gerson. For further information, please call Russ Gerson at 212.796.8122.

Press release

Bg

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. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  2. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  3. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  4. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass