Stanfield to spin off hedge fund operations

Stanfield Capital Partners will spin off its hedge fund operations into Solus Alternative Asset Management. Terms of the deal, expected to close by June 30, were not disclosed, said Jamie Tully, a Stanfield spokesman. Christopher Pucillo, partner and head of Stanfield’s hedge fund strategies, will be Solus’ CEO. Mr. Tully said Solus will continue to manage Stanfield’s hedge funds; he would not disclose the size of those investments. Stanfield managed a total of $11.2 billion as of Dec. 31, according to the firm’s latest SEC filing. Mr. Tully said the hedge fund operations were being separated from Stanfield so the firm can focus on its collateralized loan obligation investment strategies.