Art Mbanefo, a former executive at Paloma Partners, has quietly launched his own multistrategy hedge fund firm, Raeburn Advisers.
The New York-based, SEC-registered firm started trading on April 3 and is believed to have gathered about $100 million in assets. Raeburn has secured capital from several major institutions, including Merrill Lynch's alternatives investment group.
Raeburn pursues value-oriented strategies with a macro bias across a range of instruments in the corporate capital structure. Mbanefo serves as the fund's chief investment officer.
Mbanefo was co-chief executive of Greenwich, Conn.-based Paloma, which he joined in late 2003. Prior to Paloma, Mbanefo