The portfolio management group, which runs $2.6 billion in assets, will operate separately from Mariner Investment Group but will still use its operational support and infrastructure.
Caspian Capital Advisors, a $2.6 billion distressed hedge fund manager in New York, is set to spin out from Mariner Investment Group in the first quarter of next year.
Caspian has been housed within the Mariner platform since it was founded in 1997. Caspian will still use Mariner’s operational support and infrastructure, including risk oversight, legal and compliance support, back office services and administration, but will operate as a separate registered investment advisor. Caspian and Mariner did not immediately respond to a request for comment.
Caspian’s two portfolio managers are Adam Cohen, who joined in 2001 from the proprietary