Wednesday, 24 August 2016
Last updated 13 hours ago
Mar 7 2008 | 10:40am ET
A top Bear Stearns executive is jumping ship, joining New York hedge fund P. Schoenfeld Asset Management.
Louis Friedman, who led Bear’s mergers and acquisitions group and served as vice chairman of investment banking, will run a new strategy focused on private investments and long-term public holdings at P. Shoenfeld, which specializes in merger arbitrage and manages more than $3 billion. Friedman also joins the investment committee at his new home.
CEO Peter Schoenfeld will work with Friedman on the new strategy.
Friedman “brings a deep understanding of industry dynamics and possesses significant and relevant experience in both the public and private sectors, which will be critical as we expand into this new strategy under his leadership,” Schoenfeld said.