D.E. Shaw & Co launches unit to invest in Distressed Side Pockets

February 16th, 2010
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Multi-strategy hedge fund manager D.E. Shaw launched a Portfolio Acquisitions Unit late last year to take advantage of other hedge fund manager’s desires to abandon underperforming portfolios and illiquid assets. According to the Financial Times, the D.E. Shaw Unit is especially interested in “side pocket” assets as hedge fund managers attempt to cut out underperforming and distressed elements of portfolios to protect their main funds. Instead of managing its own fund, however, the Unit will focus on seeking out investment opportunities for D.E. Shaw’s existing hedge funds.

D.E. Shaw & Co. was founded in 1988 by chairman and CEO David E. Shaw. The firm manages hedge funds as well as institutional portfolios employing both benchmark-relative and alternative investment strategies.
For Detailed Investor Profiles on these Investors, click below:
D.E. Shaw & Co
Related People: Anne Dinning; David E. Shaw; Eric Wepsic; Julius Gaudio; Louis Salkind; Max Stone; Stuart Steckler(retired)*
Related Entities: D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Launches and Hedge Fund Closings

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