GSC Group has launched a multi-strategy credit hedge fund, according to a Goldman Sachs' cap intro document. The GSC Credit Strategies Fund is managed by Robert Paine, who joined the firm earlier this year from Stanfield Capital Partners (CIN, 2/27). Calls to the firm were not returned by press time.
Paine is a longtime veteran of distressed investing, having previously spent roughly 15 years managing Putnam Investments' distressed and traditional high-yield assets. He spent four years at Stanfield managing Stanfield Recovery Strategies, a hedge fund focused on corporate credit-based stressed, distressed and arbitrage investment strategies. Last month, GSC changed its name from GSC Partners and consolidated its various businesses into three sectors: corporate credit, distressed investing and real estate.