A team of young managers formerly with hedge fund Brahman Capital is preparing to launch a new fund, Permian Investment Partners, in August to focus on Western European turnaround situations, the firm’s founder told Reuters.
Cara Goldenberg, a former Brahman Capital partner, will lead the new fund. Her former Brahman colleagues Alex Duran and Scott Hendrickson will also join the firm.
Permian hopes to raise some $200 million this year, mostly from wealthy individuals and families, Goldenberg told Reuters. The firm was seeded with what it said was a “sizable” investment from Privet Capital, a family investment firm.
“Very few people are starting up in this environment,” Goldenberg told Reuters. “We’re focusing our efforts on a select demographic of investors who know us well.”