Former Baupost MD Fidalgo Forming New Hedge Fund

Sep 25 2015 | 7:16pm ET

Former Baupost Group managing director Miguel Fidalgo is forming his own hedge fund.

Fidalgo’s Triarii Capital Management, named after an element of the Roman army, plans to begin trading early next year. The fund’s investment strategy will focus on opportunistic, value-driven special situations, reportedly looking for bargains amid the debt and equity securities of companies facing reorganizations and restructurings. The new business will be based in Boston and hopes to launch with approximately $300 million. 

Fidalgo left Seth Klarman’s value-driven, $28 billion Baupost Group in January. He was reportedly involved in Baupost’s investments in several large European companies, Greek government bonds, and Icelandic banks.

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