Hedge Funds

Bear Stearns opens credit fund


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