Wednesday, 27 July 2016
Last updated 6 hours ago
Jun 12 2012 | 11:20am ET
Private equity firm Fundamental Advisors has snagged Goldman Sachs’ top municipal bond trader to manage a new hedge fund.
Hector Negroni will co-head the Fundamental Credit Opportunities Fund. Unlike Fundamental’s existing two funds, Credit Opportunities will not seek controlling stakes. New York-based Fundamental said the fund would seek to profit from “lasting, recurring” inefficiencies in the muni market.
“This launch demonstrates an expansion of Fundamental’s leading role as an alternative asset management in the municipal market,” Negroni said. “FCO will combine experienced professionals, a tailored capital base and a proven investment approach to address dynamics in the municipal universe otherwise unattended to by market participants.”