Hedge Funds

Peloton broadens business with ABS fund, new hires

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Peloton Partners is branching out from multistrategy fund management with the launch of a dedicated asset-backed securities fund that is betting on the fall of the U.S. subprime mortgage market.

The $2.6 billion multistrategy hedge fund group is headed by former Goldman partners Ron Beller and Geoff Grant and based in Montecito, Calif. and London, U.K.

Peloton ABS is performing extremely well - already up 8.5% after its first two months of operation

The Peloton ABS Fund launched in December, with initial seed capital from the firm's $1.65 billion flagship Peloton Multi-Strategy Fund. It is now open to outside