Hedge Funds

First fund for Catrock Capital


Yet another long-only money manager is making the move toward the hedge fund industry. Attracted to a less restrictive investment vehicle that allows for a larger share of the profits, long-only managers continue to migrate into hedge funds, which have low barriers to entry and offer an opportunity for hidden talents to shine.

Keeping up with the trend is Richard Coons, the former head of the U.S. Trust's high yield division, part of Charles Schwab & Co., who has recently moved into hedge funds with the launch of his own bottom-up, distressed and fixed-income fund. The New Jersey-based