Waterfall Launches Offshore Funds

Aug 6 2014 | 8:32am ET

Waterfall Asset Management, the $2.9 billion New York-based credit hedge fund, has launched a pair of Caymans-based funds.

The firm has raised $220 million for the Waterfall Sandstone Fund and $71 million for the Waterfall Olympic Offshore Fund, the latter of which carries a $100,000 minimum investment, according to regulatory filings.

Waterfall, which focuses on distressed and high-yield structured finance securities, was founded in 2004 by Jack Ross and Tom Capasse who had earlier run Merrill Lynch's asset-backed securities group.

FINalternatives' request for further information on the new funds was not answered as of publication time.


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