Tuesday, 16 September 2014
Last updated 8 min ago
Oct 2 2007 | 7:22am ET
Perella Weinberg Partners, the New York-based boutique investment banking firm, has acquired hedge fund Xerion Capital Partners, it said yesterday evening. Xerion, a $400 million New York-based fund, focuses on distressed credit and special situations.
Terms of the deal were not disclosed, but Xerion founder Daniel Arbess joins Perella Weinberg as a partner, and Perella Weinberg is to inject $100 million into Xerion’s strategies. The whole of Xerion’s team is moving to Perella Weinberg.
“This acquisition gives Perella Weinberg Partners a highly-regarded team with a strong record of accomplishment investing in distressed and special situations just as the credit markets are presenting very dynamic opportunities,” William Kourakos, one of Perella Weinberg’s founding partners, said. “We think Dan is a terrific investor and see a bright future ahead for this team’s core strategies.”
Arbess founded Xerion in 2003. He joins a star-studded cast of partners at Perella Weinberg, including namesakes Joseph Perella and Peter Weinberg, the former vice chairman of Morgan Stanley and former CEO of Goldman Sachs International, respectively. Perella founded the firm in June 2006.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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