FrontPoint Partners is transferring management of one of its hedge funds to New York-based private equity firm MatlinPatterson, The Wall Street Journal reports. The hedge fund was being handled by Noelle Savarese and Marc Rosenthal at the Greenwich-based investment firm.
The co-managers will continue managing the fund at MatlinPatterson. The credit fund had about $500 million in assets earlier this year, but has shrunk to about $160 million due to redemptions.
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