Hedge Funds

Freidheim to add to Cyrus fund series

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Och-Ziff distressed securities specialist Stephen Freidheim is already launching two new funds - less than a year after leaving the Och-Ziff group with his billion-dollar OZF Credit Opportunities fund.

Stephen Freidheim

One of the new funds will focus on short credit opportunities and one will target European credits. Both funds will launch in September.

The short credit fund will be an actively managed portfolio that is negatively correlated to corporate spreads, aiming at an asymmetric upside combined with low downside risk.

This new fund is aimed at leveraging the skill set of the existing team at