NEW YORK, April 6, 2011 /PRNewswire/ -- Visium Asset Management (Visium) announced today that it will absorb the business and investment teams of Catalyst Investment Management Co. (Catalyst), a leading credit and event-driven manager with a history dating back to 1983. This acquisition continues the measured expansion undertaken by Visium since the firm was founded in 2005 and builds on the credit and event-driven capabilities established by the firm several years ago.
"With our larger products near capacity and closed to new investment, strategic initiatives like Catalyst allow us to strengthen our existing capabilities by bringing world-class investment expertise into the firm," said Jacob Gottlieb, founder and managing partner of Visium. "At the same time, Visium's best practices will enhance Catalyst's investment and business processes."
Catalyst's seven-person team will join over 60 investment and business professionals at Visium. In keeping with Visium's flexible, entrepreneurial structure, the Catalyst team will continue to run the existing Catalyst equity event-driven and credit strategies with autonomy, supported by Visium's infrastructure in risk management, legal, compliance, client service, technology, finance and operations.
Catalyst, based in New York, manages over $250 million in equity event-driven and credit strategies. The credit opportunity strategy, launched in 2003, invests in high-yield, distressed debt, special situations and post-reorganization equities. The flagship strategy, launched in 1995, pursues a wide array of equity event-driven strategies.
Visium, also based in New York, was founded in 2005 by Jacob Gottlieb with a team of 22 professionals he began to assemble in 2001. The firm currently manages $2.7 billion in long/short equity, credit, and multi-strategy vehicles.
SOURCE Visium Asset Management