The new fund is managed by former TD Securities structured credit chief Hal Holappa.
MJX Asset Management, an $8 billion manager of credit strategies, has hired John Driscoll and Maggie Gresio of BlueCrest Capital Management to market its first hedge fund, a credit vehicle the firm plans to launch in June.
MJX has been running the MJX High-Yield Strategies fund internally for about a year and is now opening to outside investors. The firm began planning the launch two years ago, when it hired the fund’s portfolio manager, Hal Holappa, and chief operating officer, Phil Chiaramonte.
Holappa and Chiaramonte had, until 2004, worked at TD Securities in Toronto in the firm’s structured credit