LOS ANGELES (HedgeWorld.com)–Dalton Investments LLC started offering two new funds for offshore investors April 1, one focused on distressed debt from emerging markets and the other on managed buyouts in Japan.
Steve Hope, who joined the firm recently from San Francisco Sentry Investment Group, will manage the emerging market debt portfolio. Dalton co-founder and Managing Partner James Rosenwald III will oversee the Japan management buyout fund.
Mr. Rosenwald expects to take advantage of bargains in Japan’s languishing securities markets. The new Japan portfolio replaces a Japan long/short equities portfolio that closed on March 31.
“We have launched these new strategies in Dalton’s tradition of being globally opportunistic, bottom-up investors seeking the highest ‘rent’ available for our investors’ and our own capital,” said Managing Partner Steven Persky, who is in charge of Dalton’s global distressed securities/capital structure arbitrage fund.