GLG Ore Hill, the New York-based and credit-focused event-driven hedge fund firm owned by the UK-listed Man Group, has raised $200 million for a large institutional client’s credit mandate. As of 1 September, the business managed $1.7 billion in institutional assets.
The firm invests across the capital structure of highly leveraged companies using a multi-strategy approach. It invests opportunistically in event-driven and special situations in distressed, stressed and non-distressed companies. Ben Nickoll and Fritz Wahl are the principal officers and portfolio managers.
“We believe the conditions for high-yield investing have improved significantly,” said Nickoll. “The recent surge in