Sunday, 29 March 2015
Last updated 1 day ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…