The Norwalk, Conn.-based firm, which manages $370 million, has seen its assets grow, said Andrew Stotland, director of sales and marketing. In the past four months the fund has increased its assets by $150 million and has increased from $65 million to over $345 million over the past year. Pirate plans to add an analyst for every $75 million it raises, Stotland added.
Goldfarb said he worked on several transactions at Icahn's shop with a focus on distressed securities. Loukas said he structured leveraged loan and high-yield debt transactions at Scotia for refinancings, acquisitions and leveraged buyouts. Both will be generalists at Pirate, which invests across the capital structure. Calls to Icahn were not returned and a Scotia spokesman declined comment.