|Two executives from Magnetar Capital LLC, a $10 billion hedge fund firm once known for its role in creating the Collateralized Debt Obligations (CDOs) at the heart of the mortgage market collapse in 2008, are readying the launch of a new event-driven hedge fund. |
According to Bloomberg News, Min Htoo and Jordan Teramo will open Anandar Capital Management LP in May with the objective capitalizing on mispricing that occurs between equity and debt as a result of corporate events, such as takeovers and bankruptcies. The demand for event-driven funds has increased since their 13 percent gain in 2013 handily outperformed all other strategies. Min Htoo has been with Magnetar Capital LLC since 2005 and Jordan Teramo since 2012.
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