Hedge Funds

Strategic Value spawns new distressed, event firm

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A former partner with distressed-debt player Strategic Value Partners has co-founded a hedge fund firm called Normandy Hill Capital.

Geoffrey Gold is understood to have raised $110 million for an October launch of his Normandy Hill Fund. The New York-based vehicle will pursue global distressed and event-driven credit and equity strategies.

Normandy's three other founding principals are Michael Connell, Matthew Cantor and James Brook.

Gold was a partner and managing director at $5 billion Strategic Value of Greenwich, Conn. between March 2001 and January 2007.

Prior to joining Strategic Value in 2001, Gold spent 14 years at ING Barings, where