Tuesday, 28 July 2015
Last updated 9 hours ago
Oct 22 2012 | 1:57pm ET
A pair of banking veterans will ring in the new year with a new high-yield hedge fund.
K.C. Baer and Christopher Yanney, who have worked together on-and-off for the past 15 years at NationsBank, Bank of America and Citigroup, and who both at one time led U.S. high-yield trading at Barclays, founded CKC Capital in New York. The two hope to raise $250 million for a January launch, Bloomberg News reports.
"It was a good opportunity for us, timing-wise, and something we always wanted to do," Baer told Bloomberg. "We have been through several market cycles together, which we think is a benefit."
The two most recently worked together at Citi, where Yanney was head of high-yield bond and credit-default swap trading, and Baer was a senior trader.
CKC will invest in credit opportunities, with high-yield and distressed debt among its focuses.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…