Canyon Capital Posts Solid First Quarter Gains

The Los Angeles-based multistrategy firm can thank savvy equity plays and well-timed credit bets for its returns.

At first glance, it looks like Mitchell Julis and Joshua Friedman’s Canyon Value Realization Fund, managed out of their Los Angeles hedge fund firm Canyon Partners, is lagging the overall markets. The fund rose 6.26 percent net of fees in the first quarter and 7 percent through April, about half the return of the S&P 500 stock index.

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