Alan Mark, the credit-arbitrage specialist, who recently left LibertyView Capital Management, is getting ready to debut an event-driven credit strategy fund. Mark has set up Raven Asset Management in Maplewood, New Jersey and is expected to launch in May.
The Raven Credit Opportunities Fund hopes to launch with at least $100 million and anticipates closing to new investors at approximately $350 million. The fund will focus on long/short high-yield bonds and loans, with particular attention being paid to capital structure arbitrage.
At LibertyView, Mark managed the LibertyView credit opportunities fund where under his tutelage it grew to approximately $500 million.