The Palladin Group, a Maplewood, N.J.-based money manager, which once managed close to $750 million, is gearing up to launch a new multi-strategy fund. The launch comes on the heels of the decision to liquidate the firm's existing four funds by founder Jeff Devers last year.
The new fund will invest in some of the group's prior core disciplines, including convertibles, equity, statistical arbitrage and PIPEs. Palladin will also focus on the small to mid-cap spaces, where the firm believes there is more mispricing.
The firm decided to wind down Palladin Partners, Palladin Overseas, Palladin Opportunity and Halifax following