James Crombie, a former portfolio manager for Thane Ritchie's Ritchie Capital Management, has ventured out on his own with new hedge fund firm JDC Capital. The San Francisco-based firm recently rolled out a convertible arbitrage hedge fund. The master feeder-structured fund started with $21 million in assets from investors.
Raven will focus mostly on convertible arbitrage and corporate action-linked event-driven positions. The focus for the convertible arbitrage portfolio is to earn a credit spread while also extracting higher realized volatility than the market implied volatility in the securities through a dynamic delta hedging program. No convertible position will be