Azura Capital, the event-driven hedge fund run by industry veterans Peter Lupoff and Mark May, has hired Brian Cohen, a former analyst at EagleRock Capital Management. At EagleRock, Cohen covered distressed names such as Mirant Corp., Calpine Corp., Delta and Interstate Bakeries, said a distressed debt source. Cohen, who is a senior analyst at Azura, declined comment.
Lupoff and May have teamed up to launch the multi-strategy fund that will invest across the capital structure (LMW 1/24). Both will be co-portfolio managers for the venture, which is expected to launch March 1.
May was an original partner of Sagamore Hill Capital Management. Lupoff was previously co-portfolio manager with responsibility for distressed and high-yield at EagleRock. Lupoff started his career in distressed investing at MJ Whitman, where he eventually became a board member. Lupoff also worked on Lehman Brothers' proprietary desk and was a managing director and portfolio manager at Schultze Asset Management.