Fund launches & closures Hedge Funds

Elliott trader Craig deLaurier plans convertible arbitrage fund

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The former Deutsche Bank colleague of Boaz Weinstein is prepping Cerro Capital Management.

Craig deLaurier, who until recently traded credit for Paul Singer’s Elliott Management, is preparing to launch Cerro Capital Management, a credit hedge fund focused on convertible arbitrage.

New York based Cerro hopes to launch a fund sometime this summer with between $50 million and $100 million, according to a person familiar with the situation. Additional details were not immediately available; deLaurier and a spokesman for Elliott declined to comment.

Before joining Elliott in 2009, deLaurier was a convertible bond trader at Deutsche Bank from 2003 to 2009. Beginning in 2007, he was part of a team working for