Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, October 2, 2007

Perella Buys Distressed Credit Hedge Fund

Perella Weinberg Partners, the investment bank founded last year, acquired Xerion Capital Partners, a hedge fund that focuses on investments in distressed credit and other troubled companies.  Xerion's managing principal, Daniel Arbess, becomes a partner of the investment firm.  S&P estimates that $35 billion in corporate debt may default over the next 15 months.  NYTimes, Perella to Buy the Hedge Fund Xerion, an Investor in Troubled Companies; WSJ, Why Smaller Hedge Funds May Be Looking to Sell Out.

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