Hedge Funds

Mariner Investment to launch credit, multistrategy funds


Mariner Investment Group is raising capital for a pair of new hedge funds.

The Harrison, N.Y., fixed-income specialist is expected to launch Mariner Latitude Fund, a multistrategy vehicle, with $500 million on November 1. It is also initially seeking to raise $250 million for the November launch of a credit vehicle dubbed Mariner Credit Opportunities Fund.

Mariner's new credit offering will draw on the Caspian Group, a Mariner unit that specializes in credit and has managed Caspian Partners Fund since 1995. The Caspian Partners Fund runs $800 million.

Mariner's forthcoming multistrategy fund will have equity and fixed-income components.

Both funds