Tontine Retools

Tontine Associates raises $12 million from 63 investors for new Tontine Total Return fund.


Jeffrey Gendell is back.

The founder of Greenwich, Connecticut-based Tontine Associates reports in a May 21 regulatory filing that he has raised a total of more than $12 million from 63 investors for his new Tontine Total Return fund, though sources close to Gendell say the figure is much higher - perhaps as much as $500 million, including $300 million from one investor.

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