Soros Vet Launches Credit Hedge Fund

Jul 24 2008 | 7:07am ET

William Seibold, a former distressed debt portfolio manager at Soros Fund Management, has launched a new credit hedge fund with backing from Man Group’s fund of funds arm, RMF Investment Management.

Seibold, who left Soros spin-off Camulus Capital in May to found Noroton Capital Management, on July 1 launched the Noroton Event Driven Opportunity Master Fund with $50 million from RMF and another $10 million from friends and family.

The long/short, event-driven fundamental offering invests in corporate credit across the capital structure, according to Bill Price, director of marketing and investor relations. Price said Seibold currently sees more opportunities on the short side and is bearish on sectors such as auto, retail, travel and leisure.

“The market is going to have to go through a cleansing, which is going to take some time,” said Price. “You’re seeing it in the banks and their willingness to take write-offs so it’s going to take them some time to clean out their balance sheets.”

Seibold is currently in talks with institutional investors and hopes to raise between $200 million to $300 million for his offering. The fund charges a 2% management fee and a 20% incentive fee, with a $5 million minimum investment requirement.

Price also mentioned that the firm is looking to open a London office next year.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.