Monday, 27 April 2015
Last updated 6 hours ago
Sep 14 2010 | 1:29am ET
CQS has spun off its distressed debt strategy as a standalone hedge fund, after it soared 55% last year.
The new CQS Distressed Opportunities Fund was seeded by a pair of external investors in June and currently manages about US$50 million. Like the distressed portfolio of the firm’s flagship Directional Opportunities Fund, the new fund is helmed by Mark Unferth.
The strategy returned 55% between April and December last year and was up 13% in the first half of this year. Since the new fund’s launch, its performance has been flat, according to the Financial Times.
CQS plans to give the new fund several months to develop a track record before it begins marketing it to clients.
Despite the recent lull in the strategy’s performance, Unferth is said to be confident that the post-financial crisis distressed cycle is “only just beginning.”
“The extend and pretend game is essentially over now,” he told clients at a briefing earlier this month.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…