Barclays To Spin Off $2 Billion Trading Desk

Dec 11 2012 | 10:31am ET

Next year's first billion-dollar hedge fund launch is set to emerge from Barclays Capital.

The bank will spin-off its Los Angeles-based trading operation at the end of the year, Absolute Return magazine reports. The resulting firm will be known as Cloverfield Capital Management, and will focus on distressed debt.

Cloverfield is led by Matthew Barrett, Barclay's head of distressed debt and special situations investing. The firm will have the ability to invest across all asset classes, according to AR.

Barrett's team currently manages more than $2 billion.

Barrett has been with Barclays for almost six years. A former managing director of Oaktree Capital Management's Opportunities Funds, he joined the bank in February 2007.

Cloverfield will have a $25 million minimum investment requirement.


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note