Mergers & Acquisitions / Joint Ventures

FRM seeding arm backs US-based credit fund Eagle River


FRM Capital Advisors, the hedge fund seeding division of $9 billion London-based fund of funds group Financial Risk Management, has formed a strategic partnership with US-based Eagle River Asset Management and made “a significant investment” in the firm’s credit-focused event-driven fund.

The investment will bring total assets under management at Eagle River, a New York-based firm headed by Michael Pascutti, to over $100 million. Pascutti was formerly a founding partner at Sandelman Partners, where he and the Eagle River portfolio team ran a relative value portfolio.

Prior to that, Pascutti spent five years with Citadel Investment Group, where