Credit Value Partners, a new hedge fund helmed by four former Credit Suisse employees, is open for new business.
The New York-based firm spun-off from Credit Suisse's hedge fund business in 2010. The distressed debt shop hopes to raise $400 million on top of the $500 million it already manages, it said in a Securities and Exchange Commission filing.
CVP has yet to register a sale, it said. It has a $5 million minimum investment requirement and will remain open to investors for more than a year.
The firm is headed by Donald Pollard, a former managing director at Credit Suisse. Pollard's three partners are also Credit Suisse alumni, Michael Geroux, Grant Pothast and Howard Sullivan.