Hedge Funds

Fir Tree hires credit pro Walker

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Facing losses in a number of its funds, the $6.2 billion multistrategy firm Fir Tree Partners is boosting its talent pool. The firm has hired Jim Walker, former co-founder and managing partner at Black Diamond Capital Management, as a manager partner.

Walker becomes the fourth portfolio manager for Fir Tree's flagship $3.6 billion Fir Tree Value Fund. That fund fell 6% in March, for a 5.1% loss for the year, according to a letter to investors. By comparison, the Absolute Return Multistrategy Index fell 1.59% in March, taking its losses for the year to 1.77%. The flagship fund