Boone Capital Launches Event-Driven, Special Situations Fund

May 8 2007 | 11:39am ET

New York-based Boone Capital Management this month launched its Boone Capital Levered Fund, an event-driven and special situations hedge fund, with $15 million. The new offering will be managed alongside the firm’s flagship Boone Capital Partners Fund.

The fund will invest in small- and mid-cap companies, particularly companies with significant leverage, going through operational restructuring or capital refinancing. “We look at both the debt and equity of those companies,” said David Markus, Boone’s co-founder.

According to Markus, an example of a long-term investment for the fund is Graphic Packaging Corporation, which provides paperboard-packaging products to multinational brewers, soft-drink bottlers, food and other consumer products companies, as well as to independent and integrated corrugated converters.

“It’s very levered and is starting to generate significant free cash flow moving earnings and it’s right in our sweet spot,” said Markus.

The fund is looking to raise $100 million within the next six months from family offices and funds of funds. It charges fees of a 1.5% management and 20% performance fee, with a $1 million minimum investment requirement.

Markus, a former co-founder of Delaware Street Capital, founded Boone in March 2005 with partner Jeffrey Wertheim, a former portfolio for Avery Partner’s credit and distressed strategy.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR