New York-based hedge fund firm Osprey Group is getting ready to open a fund it has been managing internally since the turn of the year. Osprey Special Values Fund, which focuses on value investments in event-driven and distressed situations, will begin taking in external capital on June 1.
The fund is being managed by Steve Jackson, a former portfolio manager at Steve Cohen's SAC Capital Advisors. Year to date through April, the fund has returned approximately 6%.
Jackson spent four years at SAC and left in early 2000 to set up his own shop with $10 million from Cohen.