Hedge Funds

ECF funds open to fresh capital

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New York-based Gates Capital is opening up its ECF Value Fund International and ECF Value Fund II LP to new capital contributions on April 1. The move is driven by the desire to take advantage of market opportunities the firm believes merit capital allocation.

Both funds follow an event-driven strategy and are managed in parallel with Gates's original fund, the ECF Value Fund LP. All in, the strategy has roughly $520 million in assets and will take in up to 15% more capital, with preference being given to existing investors.

Gates Capital was founded in 1996 by Jeffrey Gates,