Hedge Funds

Boldwater prepares launch of second fund


Boldwater Capital Management is planning the launch of a second strategy that will focus on the entire capital structure of U.S. non-investment grade issuers, including bank loans, public market fixed-income preferred and equity securities of high-yield companies. The fund is expected to start at the end of the first quarter.

Howard Rubin and Barry Coffman of Boldwater

The Partner Fund will mostly be composed of non-directional strategies, including relative value and capital structure arbitrage trades as well as directional - outright long or short - strategies based on fundamental or technical opportunities.

Boldwater's $250 million