Launches & Closures Hedge Funds

Tudor preps distressed vehicle with ex-Bear team


Tudor Investment is gearing up a distressed and high-yield fund to take advantage of the unfolding distressed cycle. Tudor Distressed Debt will be managed by Bear Stearns alumni Gregory Hanley and Alan Mintz and is expected to begin trading on October 1. Tudor's flagship Tudor BVI Global will commit $300 million to seed the portfolio.

Hanley and Mintz joined Tudor in June from now-defunct Bear Stearns, where they worked together for more than 10 years.

The distressed vehicle will focus on opportunities in the credit market, including distressed, event-driven, high-yield and special situation strategies. Though the emphasis will be