Hedge Funds

Bear Stearns opens credit fund

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Bear Stearns Asset Management's new high grade structured credit hedge fund is inching its way toward the billion dollar mark. The new fund opened last month with $100 million in assets and raised over $150 million before it temporarily closed to new investors until the new year. Portfolio managers Ralph Cioffi and Matthew Tannin are looking to eventually manage a billion dollars, but plan to grow the fund more slowly. London-based capital raising group Nomos Capital Partners have been hired to raise money for the fund.

The High Grade Structured Credit Strategies Fund was launched in March with $10