Hedge Funds

Former Citadel PM Joe Russell’s Bell Point nears $500 million

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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