Barclays spins out $2B+ team into new distressed debt hedge fund Cloverfield
By Rob Copeland
Mon Dec 10, 2012
Matthew Barrett's Cloverfield Capital Management has high hopes, $25 million minimum investment.
Barclays Capital will spin out a West Coast trading
operation at the end of this year, recasting the venture as a
hedge fund named Cloverfield Capital Management, according to
people familiar with the plans.
Matthew Barrett, head of the British bank's distressed debt
and special situations investing, will resign to lead the new
fund, which has some in the industry buzzing about the New
Year's first multi-billion dollar launch. Cloverfield will
retain the right to invest across all asset classes, though
Barrett is likely to...
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