Citi Alternative Investments will acquire Carlton Hill Global Capital, a hedge fund startup focused on credit derivatives.
Carlton Hill was cofounded in 2006 by Jim OBrien and Jon Dorfman, both veterans of Morgan Stanleys fixed-income group. The firm has about $150 million in equity capital commitments and plans to launch a fund by yearend, according to Citi.
In addition to serving as co-portfolio managers for...