Friday, 9 October 2015
Last updated 11 hours ago
Nov 12 2010 | 2:11am ET
Distressed investing hedge fund shop MatlinPatterson has hired a team of credit traders formerly of KeyCorp.
The $9 billion firm nabbed Craig Ruch and his team to manage corporate credit and municipal debt investments, the Financial Times reports. Ruch managed $20 billion in debt at KeyCorp, including the firm’s Absolute Return Credit Strategy. That fund rose 78% from its launch in June 2008 through this June.
Last year, the fund was up 30%.
MatlinPatterson was set up as a division of Credit Suisse in 1994 and was spun off in 2002.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…