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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of