Oceanwood Capital Management’s deputy chief investment officer Julian Garcia Woods is striking out on his own and the hedge fund he co-managed with founder Christopher Gate is shutting down.
Woods, who has been at Oceanwood since 2007, is taking a team from the firm and plans to launch CoreLane Capital Management early next year, according to Andrew Baker, head of business development at the London-based company. Oceanwood will return capital to investors while Gate, 59, is retiring, he said.
The new fund will run a concentrated portfolio of equity and credit bets, focusing on European special situations investment opportunities. CoreLane will build its portfolio around corporate actions such as spinoffs, mergers and acquisitions, reorganizations, bankruptcies and recapitalizations. “The four largest European spin-offs have happened in the last couple of years, and we believe there are many more to come,” Woods said.
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