Managers of Bear Stearns Asset Managements New Castle hedge funds will follow in the footsteps of several fellow BSAM colleagues by spinning out their funds while maintaining a relationship with JPMorgan in the wake of its acquisition of Bear Stearns.
Mark Kurland, Robert Reitzes and Scott Merves will spin out all three of their funds in October, at the earliest. They will continue to operate from JPMorgans offices while they finalize their agreement with the bank and look for new office space.
The New Castle funds, which will retain their current names, will operate independently of JPMorgan. But they will