Hedge Funds

Tennenbaum launches new multi-strategy vehicles

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In the latest example of a convertible bond pro launching a multi-strategy fund, Symphony Asset Management veteran Eric Pagel is now trading one for Tennenbaum Capital Partners.

The Santa Monica, Calif.-based firm introduced the Tennenbaum Multi-Strategy Fund in July with seed capital from friends and family.

Pagel is a former fixed income portfolio manager at Symphony Asset Management, where he was responsible for the firm's convertible arbitrage strategy, which included $1.5 billion in assets allocated to several funds.

Pagel follows in the footsteps of convertible specialist Allan Teh, who left a Citigroup internal fund in 2004 to launch Kamating