New York-based Lincoln Park Asset Management is prepping a credit arbitrage hedge fund to be launched in the first quarter. Lincoln Park is headed by Samuel Vulakh, a former credit derivatives trader for Bear Stearns and Credit Suisse First Boston. 

The fund’s non-directional credit strategy will focus on global high yield mandates, according to a source with knowledge of the fund.

The source told FINalternatives that the fund will invest in more liquid names but declined to further elaborate on its strategy. However, the source offered that the fund is looking to raise its assets from the institutional crowd.

Lincoln Park opened its doors for business this summer and is currently in the process of finalizing its team and infrastructure.