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Kirsten Bischoff, Opalesque New York: Hegemony Capital Management, LLC, the Boca Raton based asset management firm started by Drexel alums Michael Lewitt and Joseph Harch recently announced the upcoming, Fall 2008 launch of their sixth and seventh funds.

The HCM Pathfinder Fund will be a long only senior debt fund which will be almost exclusively first lien bank debt of large cap companies, and the HCM Credit Opportunity Fund will be based on the same strategy but with an additional basket shorting subordinated debt and CCC rated company bonds. Hegemony, which up until 2007 was known as Harch Capital was founded in 1991 when Lewitt and Harch began managing money for the Milken Family Foundation. The business further expanded when they took on a multibillion dollar private equity pool for Drexel Burnham Employee Partnerships, and following that they soon began launching hedge funds focused on the CLO market.

Lewitt, in addition to being President of Hegemony is also a prolific writer on the financial markets, publishing the monthly HCM Market Letter (although the month of July has thus far provided enough action to warrant two letters), and is on the board of Trusts and Estates Magazine, a publication he also contributes to. Opalesque recently had the opportunity to speak with Lewitt about the newly launching funds as well as his passionate and opinionated views of the US market environment.

The corrupti......................

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