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Gotham Shop Rolls Out Credit Fund

New York-based EOS Partners recently launched the EOS Credit Opportunities Fund, a hedge fund that invests in global distressed bank debt and fixed-income securities.

New York-based EOS Partners recently launched the EOS Credit Opportunities Fund, a hedge fund that invests in global distressed bank debt and fixed-income securities. The $400 million shop was created by Steve Friedman and Brian Young, two former general partners of global macro hedge fund Odyssey Partners.

The new fund will be managed by Matt Meehan and Tal Gurion, who currently oversee an internal $60 million credit portfolio created two years ago. Meehan said the fund was launched with $63 million, seeded by transferring the entire credit portfolio in addition to a $3 million investment from an undisclosed institution.

Meehan said the firm waited two years to make the fund available to outside investors because it wanted to build a track record. The goal now is to target institutional investors.

Meehan hopes to raise the credit fund's assets to $300-400 million.

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