Hedge Funds

Sagamore chief returns


Scott Roth, the former head of the convertible bond portfolio at Sagamore Hill Capital, has resurfaced and is planning the launch of a similar fund under the auspices of Severn River Capital. The fund will employ a multi-strategy approach with some relative value and event driven. It is expected to raise as much as $500 million.

Roth had been a partner at Sagamore since the firm was founded in 1999 by Steven Bloom. He was replaced by Michael Gunner, formerly with Deutsche Bank. Sagamore, which manages over $2 billion in assets, recently reopened its funds in order to take