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Komfie Manalo, Opalesque Asia: Boston-based Regiment Capital Advisors said it would close its long/short credit hedge after suffering losses of 8.8% from the oil price slump last year, Bloomberg reported.
Mark Brostowski, who co-manages the investing side of the business for Regiment Capital with William Heffron, said he is planning to step down from the company at the end of the year. Brooke Carroll, a partner and collateralized loan obligation structurer and performance analyst, is departing on June 30. Former CFO Christopher Quinn left this year to join Grove Street Advisors. There will be further changes in the staffing of the firm.
The firm still runs a CLO business and a separate account from a sovereign wealth fund.
Tim Peterson, who founded Regiment Capital in 1999 after a decade at Harvard University’s endowment, said at the end of 2012 that he would step down from day-to-day management of the then $7bn credit hedge fund firm in mid-2014 and take on a mentoring role at the firm.
The decision by the former Harvard high-yield bond trader to turn over the reins follows similar moves by hedge-fund founders, reported Bloomberg then, includin...................... To view our full article Click here
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