Cedarview Capital Management, a new management firm offering long-short high-yield and other credit-oriented strategies, has been formed with the backing of Capital Z Investment Partners. Cedarview has about $50 million under management. Jennifer Powers, a Capital Z spokeswoman, said the size of Capital Z's investment in Cedarview was not disclosed.
High-yield bond managers Burton Weinstein and Jeff Schachter founded Cedarview. Mr. Weinstein was a senior portfolio manager at Aviary Associates, a high-yield hedge fund manager. Information about Mr. Weinstein's replacement could not be learned. Mr. Schachter was a managing director at Samco Capital Markets who advised distressed and high-yield hedge fund investors. Phil Pendergraft, executive vice president of Samco parent Penson Financial Services, did not return a call seeking Mr. Schachter's replacement.
Capital Z specializes in making investments in hedge fund and private equity managers.