Carlson Capital is off to a running start this year. The firm's flagship Double Black Diamond fund gained about 2% in February to put up 9.51% for the first couple of months this year, erasing a good part of its 12.68% losses in 2008. Black Diamond Partners - which features roughly half the leverage - has gained 6.23% for the same period.
"We've returned to our basics and focused on our core businesses, which are risk arbitrage, credit and equity relative value," says Roy Trice, Carlson's chief operating officer. "Each of those businesses