Hedge Funds

Ex-Goldman duo start Empyrean with $500m

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Michael A. Price and Amos Meron, both former partners at Goldman Sachs, and Scott A. Imbach, a former principal at Canyon Capital Advisors, have teamed up to launch a hedge fund and are expected to raise in the neighborhood of between $500 million and $1 billion in assets. The trio plans to close their multi-disciplinary fund June 1.

Los Angeles-based Empyrean Capital Partners will take a multi-strategy approach to corporate relative value and event-driven investments. The fund will invest in special situation equity, special situation credit, convertible arbitrage, capital structure arbitrage, merger arbitrage and volatility. Price, Meron and Imbach,