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Morgan Stanley alum, Ritchie trader to launch fund A 20-year Morgan Stanley veteran and a former head of global macro at Ritchie Capital is rolling out his own hedge fund. Dubbed Fairstream Capital Management, the new firm will be run by Tom Juterbock out of Ritchie's offices in New York in what turns out to be a friendly spin-off. (HedgeWorld.com)

MD Sass makes markting push for distressed debt fund MD Sass, the $8 billion colossus run by Martin Sass, is making a marketing push for its original distressed debt fund, which has just $100 million despite being launched in 1989. (Iialternatives.com)

NY Post: Hedge fund managers thrive back into institutions for `more long-term approaches` Big-time money manager Robert Gendelman is one of the lucky survivors of the shark-infested hedge fund waters. Gendelman, a well-respected 22-year veteran, recently closed his own hedge fund, Cobble Creek, as the pressure mounted to bring in more money from wealthy investors. Among the estimated 7,000 hedge funds, only the largest - with a big stash of assets - will survive a coming shakeout, he predicts.

...With returns shrinking and compensation packages so closely matched to returns and declining in kind, many professionals are seeking higher ground, back in more traditional Wall Street jobs....Gendelman is fielding a lot of phone calls these says at his plush office at 399 Park Avenue - from hedge fund professionals on the verge of quitting......................

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