Regiment Founder Peterson To Stop Managing Money

Dec 13 2012 | 12:47pm ET

Regiment Capital Advisors founder Tim Peterson announced his retirement and succession plans at the $7 billion hedge fund.

A former high-yield bond trader for Harvard University's endowment, Peterson will stop managing money at Boston-based Regiment in the middle of 2014. The 51-year-old will remain with the credit hedge fund in a mentoring role, he said.

Mark Brostowski and Bill Heffron will continue to manage Regiment's remaining funds—it sold its $2 billion special situations funds and direct-lending unit to TCW Group last week—while Chris Kaster and Thomas Sorbo will continue to run the firm's business operations.

Regiment spokeswoman Diana Pisciotta told Bloomberg News that the proceeds from the special situations sale will help Peterson to redistribute equity to other members of the firm.

Peterson founded Regiment in 1999.


In Depth

Fund Focus: Asian Frontier Capital Offers U.S. Investors Access To Untapped Markets

Mar 2 2015 | 6:47am ET

Hong-Kong based asset manager Asian Frontier Capital is making a capital raising...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note