Hedge Funds

Greywolf launches high yield strategy

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Connecticut-based Greywolf Advisors has launched its second hedge fund. Greywolf High Yield Partners will invest in high yield, employing a long/short strategy.

The firm, run by former Goldman Sachs partner and proprietary trader, Jon Savitz, launched its first capital structure arbitrage, distressed debt and special situations fund last year. The Greenwich-based firm reportedly manages over $500 million in assets.

The new fund will be managed by Greywolf Partner Robert Miller. Miller was formerly the manager of the high yield trading desk at Goldman Sachs. Savitz was previously responsible for Goldman's distressed debt and high yield trading desks. The