Providence Capital, a Minneapolis-based hedge fund firm, has launched a corporate restructuring strategy with backing from the Trammell Crow family office.
Dallas’s Crow Holdings, scions of the Trammell Crow real estate empire, has seeded a new fund managed by Providence Capital, a Minneapolis, Minn.-based hedge fund. The Providence Credit Opportunity Fund launched in January and is co-managed by founder Tom Schmidt and portfolio manager Greg Anderson, both of whom formerly worked at EBF & Associates, a $1.5 billion distressed debt firm also based in Minneapolis. Providence and Crow declined to comment, and the amount invested could not be determined.
The Providence Credit Opportunity fund invests in restructurings of companies with market capitalizations of $500 million or less that are based