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Portfolio > Portfolio Construction

New Long/Short High-Yield Bond Fund Gets Capital Z Investment

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NEW YORK (–Burton Weinstein and Jeff Schachter launched Cedarview Capital Management LP with about US$50 million in assets under management. Hedge fund and private equity investor and incubator Capital Z Investments LP is sponsoring the newcomer.

New York-based Cedarview will pursue long/short high-yield strategies as well as other credit-oriented investment opportunities. The prime broker is Goldman Sachs & Co.

“Despite general market sentiment, we believe there are significant investment opportunities today and going forward in the high-yield long/short spectrum that should reward investors seeking additional credit exposure in their portfolios,” Mr. Schachter said, in a statement.

Laurence Cheng, chairman and chief executive of Capital Z, commented that Messrs. Weinstein and Schachter are seasoned industry veterans in the high-yield space and bring to Cedarview a strong base of complementary skills in portfolio management and operations. Capital Z has a total of US$2.25 billion under management.

Previously Mr. Weinstein was senior portfolio manager at Aviary Associates LP, a US$120 million high-yield fund based in Northern New Jersey. Before that, he was a senior analyst for event-driven strategies at Gabriel Capital, New York, a US$1 billion hedge fund that invests in risk arbitrage, special situations and distressed securities.

He also has worked at Loews Corp. There he held positions as a portfolio manager focused on bank debt in the high-yield group and as a senior analyst for high-yield and distressed securities.

Mr. Schachter was a managing director at Samco Capital Markets, where he advised hedge funds in high-yield and distressed strategies. His experience also includes work as a director of high-yield sales, trading and research for SG Cowen Securities Corp.

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Contact Robert F. Keane with questions or comments at: [email protected].


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