Babson Buys New York Distressed Debt Hedge Fund Shop

Apr 23 2008 | 7:22am ET

Babson Capital Management has acquired the distressed debt hedge fund business of Murrary Capital Management, it said yesterday.

Murray founder Marti Murray and her team will join Boston and Springfield, Mass.-based Babson, remaining in New York. The team will drop the Murray Capital Name, Babson said.

The acquisition is Babson’s third in six years. Terms of the deal were not disclosed.

Murray Capital, which was founded in 1995, is one of the five underlying managers of the Dow Jones Hedge Fund Strategy benchmark for distressed securities.

“Marti and her team bring a wealth of distressed debt investing experience to Babson Capital, have a proven track record of success, and share our dedication to thorough research, a disciplined investment process and transparency,” Murray’s new boss, Babson head of corporate securities Cliff Noreen, said. “This acquisition is consistent with our philosophy of selectively adding capabilities that complement and extend the investment strategies we offer our clients. It is also well-timed given the unprecedented market dislocation that is creating distressed debt investment opportunities.”


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...