Stanfield Capital Partners, a New York-based registered investment advisor specialising in credit-based alternative investment strategies, has agreed to separate its hedge fund strategies
Stanfield Capital Partners, a New York-based registered investment advisor specialising in credit-based alternative investment strategies, has agreed to separate its hedge fund strategies group into an independent firm under the leadership of Christopher Pucillo, a partner in the firm and head of hedge fund strategies.
Under the agreement, Pucillo’s new management company, Solus Alternative Asset Management, will replace Stanfield as the investment manager of the hedge funds that Stanfield advises. The terms of the transaction, which is expected to close by the end of June, have not been disclosed. Stanfield was founded in 1998.
‘The separation of the hedge fund strategies group represents a natural step in the continued growth and development of our business,’ says Stanfield managing partner and chief executive Dan Baldwin.
‘It will allow Chris to continue to build upon his impressive five-year track record in the hedge fund business, while enabling Stanfield to focus on its credit-based core leveraged loan and structured products business, upon which the firm was founded almost 10 years ago.
‘Over the past several months, we have worked closely with Chris to orchestrate a seamless transition for clients, including establishing our hedge fund group as an independent business within Stanfield earlier this year. This is an excellent transaction for both Stanfield and the hedge fund group, allowing each business to focus on its unique market opportunities and strategies.’
Says Pucillo: ‘The new ownership structure will better align the interests of the key investment professionals with those of our investors. There will be no changes to the operations of the hedge fund group – the current portfolio management and research teams will remain in place, the underlying strategy and focus of our funds will remain the same, and the funds will continue to be supported by the same robust operations and administrative teams.’
