Dry Brook Founder Sets Up New Hedge Fund

Apr 26 2012 | 2:33am ET

Nomura Securities International's high-yield and distressed securities research chief is set to try his hand at hedge funds once again.

Arthur Roulac has founded Three Court in New York, with plans to launch the new firm's first hedge fund in July. The distressed debt vehicle is expected to have $20 million in assets under management at inception, garnered from Roulac's friends and family, HFMWeek reports.

Three Court isn't Roulac's first hedge fund: He co-founded Dry Brook Capital Partners in 2007, selling the special situations firm to Citigroup a year later. He also formerly worked at Angelo Gordon & Co.

Three Court will invest in both stressed and distressed debt and leveraged equities. It will have an offshore master fund and onshore feeder fund.

The new firm will charge 1% for management and 10% for performance. There will be a $500,000 minimum investment requirement, and the fund will offer quarterly liquidity with 90 days' notice.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of