Hedge Funds

GSC Partners hires for new launch

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GSC Partners, the $9 billion credit-focused investment firm, is furthering its entrée into the world of hedge funds with the launch of a fund that will make debt and equity investments in the leveraged and distressed markets.

The fund, to be launched sometime this year, will be managed by Robert Paine, who recently joined GSC as a senior managing director. Paine comes from Stanfield Capital Partners, where he managed a distressed debt hedge fund.

GSC now runs one hedge fund, GSC Eliot Bridge, which GSC purchased last year from the TCW Group. The $43 million fund, which focuses on