Cairn hedge fund launch imminent

Paul Campbell, a director at Cairn, said capital raising for the fund, called Credit Opportunities Fund, was well advanced. The London-based company aims to launch the fund with up to €200 million in start-up capital.

Cairn is also on a recruiting drive. At the start of February, it hired former JP Morgan credit trader Duncan Needham as a collateralised debt obligation (CDO) manager in its asset management division. Needham will primarily manage synthetic CDOs for institutional investors.

In January, Cairn recruited James Starky, formerly Banque AIG’s associate general counsel covering derivatives, capital markets and structured finance in Europe and Asia, as an in-house lawyer.

Meanwhile, Campbell said the company plans to structure and issue a public CDO transaction in the near future. It has previously conducted private CDO deals.

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