Launches & Closures Hedge Funds

RBC, HBK alumni raise $152m for credit fund


The HBK spinout will invest in middle market loans and private credits.

Elm Park Capital Management, which spun out of HBK Capital Management in 2010 and manages about $343 million of that firm’s middle market credit investments, has launched a fund to purchase similar assets for outside investors.

The firm was founded last year by Mark Schachter, a former HBK portfolio manager who had been with the now-$5.85 billion Dallas firm since 2006 and managed its direct lending team, and Chuck Winograd, the former chairman of RBC Capital Markets.

The Elm Park Credit Opportunities Fund, which began trading on July 29, has raised $152 million. The firm hopes