The new credit hedge fund has quickly raised capital from a variety of institutions and funds of funds.
Bell Point Capital, the credit-oriented firm launched with $84 million last July by Citadel’s former U.S. credit chief Joe Russell, is approaching $500 million in assets, a substantial milestone in a period when even marquee names have had difficulty fundraising.
The firm’s investor base consists of pension funds (approximately 40% of assets), funds of funds (40%), foundations and endowments (10%) and family offices (10%), according to an investor. Among these investors are the Indiana Public Employees Retirement Fund and fund of funds Morgan Creek Capital Management.
The firm employs 18 people and managed over $400 million as