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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note