Sothic Capital launches new Distressed Debt Fund
| October 31st, 2009 | ||
| Gertjan Koomen and Didier Matineau have launched Sothic Capital, a new hedge fund manager that invests in the debt of distressed European companies. Mr. Koomen, Sothic Capital’s Chief Investment Officer, previously headed the credit prop trading desk at JPMorgan. Mr. Martineau, the firm’s CEO, had previously spent time at Long Term Capital Management and until this year was a risk specialist and executive at hedge fund administrator GlobeOp. According to the Financial Times, GLG Partners and a team of former Merrill Lynch employees have also recently launched hedge funds that invest in distressed debt, although the latter’s MCapital has had little success in winning over investors. Sothic Capital stands out with a fee structure that modifies the traditional “two and twenty” model to allow for performance fee refunds to clients if investments perform poorly. Half of the “twenty” will go to Sothic immediately, and, contingent upon continued positive performance, the firm will receive the other half the following year. | ||
See Source | ||
For Detailed Investor Profiles on these Investors, click below: |
GLG Partners |
Sothic Capital Management |
Related People: Didier Matineau;
Related Entities: GLG Alpha Select Fund;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings
Add a Comment |
More Recent Headlines
Touradji Capital, Amongst Other Commodity Funds, Beaten by Indices Through September |
Some insights from David Einhorn of Greenlight |
George Soros believes financial crisis will have a serious and lasting impact |
Carl Icahn ups offer for XO Holdings |
The Hedge Fund Investor’s Burden and Poor Investment Practices |
Kenneth Griffin Announces Two Citadel Funds will be Unfrozen |
Icahn Should Give Up Running Other People's Money |
Hedge Funds are Evil... |
Mistral Capital forms Board of Advisors |
HealthSouth to Reimburse Activists for Proxy Fight |
Other Openings and Closings
Collard Capital Management launches Collard Global Macro hedge fund | ||
| September 1st, 2010 |
Paolo Pellegrini’s PSQR Management returning investors’ capital | ||
| August 26th, 2010 |
Merrion Investment Managers opens High Alpha hedge fund to new investors | ||
| August 25th, 2010 |
Martin Currie Launching Hedge Funds Open to Retail Investors | ||
| August 3rd, 2010 |
Nelson Peltz’s Trian Group to launch new hedge fund, Aims for $1.5 billion | ||
| July 29th, 2010 |
