Louis P. Friedman will join hedge fund manager P. Schoenfeld Asset Management in the spring to start the companys first private equity strategy as president and managing partner, confirmed Pen Pendleton, PSAM spokesman. Mr. Friedman will help create new investment funds that will take minority positions in companies and invest in PIPES and publicly traded securities.
He is vice chairman of investment banking and global chairman of mergers & acquisitions at Bear Stearns Cos., where he wont be replaced, said spokesman Russell Sherman. This is a great opportunity for Louis, Mr. Sherman said. We look forward to participating with him in his new role in the future and explore investing in his fund and a potential prime brokerage relationship with PSAM.