Ryan Foster, a former senior portfolio manager at Millennium Management and ex-Soros credit investor, is launching a new credit hedge fund, Extant Capital, with $200m in seed capital from New Holland Capital, a $6bn alternative investor in external funds.
The firm, founded in 2025, will begin trading this month, leveraging the capital to implement its disciplined credit strategy.
Foster, who serves as CEO and CIO, brings over 17 years of experience managing credit portfolios, having previously worked at Millennium’s Torsion Capital and Soros Fund Management.
Supporting the launch, Extant has appointed Peter Ellingboe as Senior Portfolio Manager. Ellingboe joins from Walleye Capital and has prior experience at Verition, covering strategies from distressed debt to investment-grade credit.
The launch adds to New Holland’s roster of more than 40 external managers, which includes funds run by former Bridgewater, Centiva, and Eisler executives.
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