Newly Launched Varden Pacific Sees Gold In Corporate Debt

Jun 14 2011 | 2:23pm ET

Varden Pacific, a San Francisco-based hedge fund launched in April by four Wall Street vets, will focus on niche opportunities and residual dislocations in structured credit—specifically, corporate-backed structured credit.

It may be an esoteric market niche, but it's one familiar to the new firm's founders:

“The professionals we’ve put together for our investment team all have 10-plus years of structured credit background, mainly with Wall Street firms,” Varden Pacific co-founder Brad Scelfo told FINalternatives.

Scelfo, whose own background includes stints structuring and marketing credit assets at Credit Suisse and Barclays, has joined forces with Shawn Stoval, former regional head of client trading for Morgan Stanley’s structured credit group; Dennis Lin, former global head of USD interest rate swaps trading for Credit Suisse; and Chris Slattery, former manager of BofA’s Principal Finance Group’s investments in structured credit assets.

Varden Pacific’s mandate allows it to invest in a wide range of structures, says Scelfo, as the assets it’s targeting can take many forms. They are often sourced from large institutions forced to sell because of recent regulatory, accounting and ratings methodology changes.

Scelfo says they’ve raised $40 million, to date—95% from institutional investors, the rest from friends, family or the partners themselves.

The fund carries a minimum investment of $1 million.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.