Zenni’s New Firm Features Old Friends

Nov 6 2006 | 4:41pm ET

Black Diamond Capital Management co-founder James Zenni hasn’t wasted any time getting his new alternatives firm up and running.

Zenni, who left Black Diamond last month and sold his ownership stake, has formed Z Capital Partners in Lake Forest, Ill., with a cohort of former Black Diamond employees. The new firm’s first project is a credit hedge fund—seeded with Zenni’s capital—investing in senior-secured junk debt. Zenni said a distressed-debt private equity fund is also in the offing.

A half-dozen Black Diamond alums have signed on to the new venture, including Christopher Kipley as principal, Rahul Sawhney as managing director and Jon Schmugge as CFO. In addition, former Citadel Investment Group associate Melonie Clark has joined as head of the new firm’s treasury and settlements department, assisted by former ING Investment Management funding and settlement manager Chad Wettstein.

Also joining are former Assistant U.S. Attorney Martin Auerbach as consulting general counsel, Synergy-Search founder Courtney McDermott as head of human resources, and Goldman Sachs’ Hang Yuan as chief information officer.

The firm says several new hires will join early next year.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note