Launches & Closures Hedge Funds

Taconic forms second dislocation fund

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Taconic Capital Advisors is hoping two's the charm. The $8.6 billion event-driven firm, founded by former Goldman Sachs partners Frank Brosens and Ken Brody, is raising capital for a new private equity-style vehicle that aims to profit from this fall's unprecedented credit market turmoil.

"Whatever the form of [the] government bailout," Taconic wrote in a letter to investors, "we expect credit opportunities to be abundant."

The fund is the second such vehicle Taconic has set up in the past year. Last fall, the firm got $260 million in commitments for a market dislocation vehicle that aimed to buy up