Stanfield Capital Spins Off Hedge Fund Group

May 17 2007 | 9:57am ET

Credit-based specialist shop Stanfield Capital Partners has signed a definitive agreement to separate its hedge fund strategies group into an independent firm under the continued leadership of Christopher Pucillo, partner and head of hedge fund strategies.

Under the agreement, Pucillo’s new management company, Solus Alternative Asset Management, will replace Stanfield as the investment manager of the hedge funds that the latter firm advises. Terms of the transaction, which is expected to close no later than June 30, were not disclosed.

Dan Baldwin, Stanfield’s managing partner and CEO, said the separation of the hedge fund group represents a “natural step” in the continued growth and development of Stanfield’s business enabling the firm to focus on its credit-based core leveraged loan and structured products business, upon which it was founded almost 10 years ago.

“Overall, this is an excellent transaction for both Stanfield and the hedge fund group, allowing each business to focus on its unique market opportunities and strategies.”

Pucillo said there will be no changes to the operations of the hedge fund group – the current portfolio management and research teams will remain in place and the underlying strategy and focus of the group’s funds will remain the same.

New York-based Stanfield was founded in 1998 and managed some $11.2 billion in assets as of the end of December 2006.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...