Launches & Closures Hedge Funds

Hildene launches distressed credit fund


The new fund, which launched in August, will focus on structured products.

Hildene Capital Management has opened a new distressed credit fund three years after launching its first fund, which has earned hefty profits investing in trust preferred securities.

The new fund, Hildene Opportunities Fund II, will have a broad mandate to focus on purchasing structured products and the firm thinks it can manage as much as $500 million, according to an investor. The firm’s first fund, Hildene Opportunities Fund, was launched in May 2008 with a similarly broad mandate, but within eight months founder Brett Jefferson, a former senior portfolio manager at Marathon Asset Management