Friday, 22 August 2014
Last updated 15 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 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note