Hedge Funds

Suttonbrook creates levered feeder


Suttonbrook, the $950 million fund founded by Highbridge Capital Management alums John London and Steve Weinstein, has arranged a feeder-fund structure that offers investors a novel way to leverage their investments in the firm's master fund.

Suttonbrook Capital Portfolio, the master fund, pursues convertible and merger-arbitrage, relative-value and special situations strategies.

The new leveraged structure, launched on October 1, allows investors to place capital in a new feeder fund, where a credit facility provided by CDC Ixis matches every dollar and then the combined sum is invested in the master fund.

CDC Ixis charges an undisclosed fee for providing