Hedge Fund Seeder FCA Invests In Eagle River

Jun 15 2011 | 8:00am ET

Hedge fund seeding firm FRM Capital Advisors has made a “significant investment” in Eagle River Asset Management, bringing the latter’s total AUM to over $100 million.

Based in New York, Eagle River is headed by Michael Pascutti, a founding partner at Sandelman Partners where he and the Eagle River team ran a relative value portfolio. Prior to that, Pascutti spent five years with Citadel Investment Group as head of U.S. convertibles. He most recently ran a convertible bond portfolio at PIMCO, and earlier in his career had stints at Tribeca Investment and CS First Boston.
 
Eagle River, founded in 2010, is an event-driven manager utilizing fundamental credit research to profit from corporate events such as mergers, acquisitions, refinancings, litigation, tenders, and restructurings, including security optionality related to such events. Pascutti works with two former colleagues—Ben Esty and Jim McNeil—along with COO Jonathan Bloom and two other team members.

Clive Peggram, CEO of FCA, said, “Michael is one of the most talented fundamental credit managers in the industry and we are very pleased to support Eagle River. The long-term performance characteristics of event driven strategies are very attractive, and we expect prospects to remain strong for the foreseeable future. Not only is there a healthy level of corporate activity, but the pullback of banks from proprietary trading means there is less competition in event driven trades.”
 
FRM Capital Advisors is a division of Financial Risk Management, a global fund of hedge funds group managing approximately $9 billion worldwide for institutional and other sophisticated investors. 


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of