Hedge Funds

Icahn makes foray into hedge funds


Carl Icahn is gearing up for the launch of a multi-strategy hedge fund. The investment guru is said to be looking to gather several billion dollars for his new venture, which will include right-hand-man, Keith Meister, and Richard Elden, a former principal at Chicago-based Grosvenor Capital Management, as partners.

There is no word yet on when the fund will materialize, but industry officials say it will likely include a variety of strategies such as long-short equity, distressed debt, credit arbitrage, capital structure arbitrage and convertible arbitrage.

Icahn came onto the Wall Street radar screen in 1985 when he