PRLog (Press Release) -
Jan 25, 2010 -
Vanadium Capital Management, LLC (“Vanadium”)
is pleased to announce the hire of Il Joon Lee as Co-Portfolio Manager. He and Bryan Verona previously worked together at Talon Capital, a proprietary hedge fund focused on distressed debt investing at JPMorgan Chase. After Talon, Mr. Lee served as a Vice President and Director of Investments / Distressed Securities for Harbert Management Corporation (renamed Harbinger in 2007); he was the second employee hired by Harbert and was instrumental in helping to grow assets from approximately $25 million to $3 billion in three years. After Harbert, Mr. Lee joined the Blackstone Group as a Managing Director of the Advisor and a fund level partner of a $2 billion distressed fund, which he helped to start.
Prior to his Principal activities, Mr. Lee received his B.S. in Petroleum Engineering from the University of Texas and an M.B.A. from the University of Chicago Business School. Prior to Chicago, he spent the first six years of his career as a Project Manager and Engineer for BP Amoco.
Vanadium is excited about the addition of Il Joon Lee and anticipates establishing a new investment vehicle to raise third-party capital. Please direct any inquiries to Investor Relations at IR@vanadiumcap.com.
About Vanadium Capital Management
Vanadium, an event-driven investment fund established in 2007, is the investment manager of Vanadium Capital, LP (the “Partnership”)
, which, regardless of market environment, seeks to achieve consistent and absolute returns by investing long and short in financial instruments whereby the underlying value is misperceived by the marketplace and there also exists an appropriate risk-adjusted return. The Partnership focuses on situations involving financial and operational distress and near-term catalysts including, but not limited to: financial distress, bankruptcy, corporate malfeasance, merger arbitrage, investor activism (whether initiated by the Partnership or any other investor), and/or other corporate events (spin-offs, leveraged recaps, etc.). The Partnership believes that these situations often provide the opportunity to achieve significant risk-adjusted returns due to the complexity involved in analyzing the company’s legal, financial, operational, and situational risk. Additionally, there often exist statutory rules and/or other external pressures (e.g., risk limits, asset category restraints, etc.) that force many holders to exit positions below fair market value. The Partnership aims to invest in situations that are not correlated with the broader market and, when necessary, to utilize hedging to maintain market neutrality. For additional information, please contact Mahsa Houshmandi at (212) 257-6000 or at IR@vanadiumcap.com.
