Daniel Zwirn, the New York investor forced to close a $4 billion hedge fund due to client withdrawals, is rolling out a new publicly traded fund, Bloomberg reports. He will help run a closed-end fund for Chicago-based private equity firm, Alda Capital, providing financing to small and medium-sized companies.
Alda is planning to raise about $50 million for the fund. Zwirn’s DB Zwirn Special Opportunities Fund closed in February 2008 after investors asked to take out more than $2 billion. Zwirn and Alan Gordon, Chairman and CEO of Alda Capital Manager, the fund’s investment adviser, are the co-managers of Alda Capital.
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