Wednesday, 28 September 2016
Last updated 9 hours ago
Nov 20 2007 | 7:39am ET
Chicago-based hedge fund Pentwater Capital plans to open a London office, which should be up and running by the middle of next year.
Pentwater, founded by Deephaven Capital Management veteran Matthew Halbower, has registered a U.K. subsidiary, Financial New reports, and plans to hire at least 10 staffers for the new office, which will specialize in takeover and restructuring investments. The firm is already interviewing candidates for the positions.
Pentwater launched its first fund last month with $700 million, and has since raised an additional $300 million. The firm expects to raise a total of $1.5 billion for the event-driven hedge fund before it closes the fund to new investors.