Millennium Vet Set To Launch Credit Hedge Fund

Millennium Management veteran Peter Lupoff is set to launch his Tiburon Credit Opportunities Fund in January with some $35 million. Lupoff’s fund is primarily focused on credit instruments in the capital structures of the companies it invests in.

“From identification of the ‘fulcrum’ security, i.e., that senior most impaired part of the capital structure, usually a debt instrument, we broaden the review for what is intrinsically cheap or rich," Lupoff told FINalternatives. "We will be long or short anywhere in the capital structure, depending upon where the best risk adjusted returns reside.”