Hedge Funds

Lewis quits Citigroup to launch Orange fund


Daniel Lewis, a former director within Citigroup's $5 billion Global Special Situations proprietary investment group, has parted ways with his former haunt to set up his own hedge fund, Orange Capital. Lewis is planning to roll out a global opportunity fund next month with $150 million to $200 million in assets.

Orange Capital will make value investments across all layers of the capital structure. The fund will employ four core investment strategies: value equity, high yield and distressed, capital structure arbitrage and secured loans. It will primarily invest in the consumer products, media and communications, commodities, retail, energy