New York-based distressed debt hedge fund firm Monarch Capital is expanding its presence in Europe.
Michael Weinstock, the chief executive of Monarch, told Financial News that it is opening an office in London to take advantage of the attractive investment opportunity [in Europe] as “more and more financial institutions are selling assets.”
The launch date of the new office was not disclosed.
Monarch managing partner Josiah Rotenberg, who is based in the firm’s Israel office, will move to London to run the new operation. He will be joined by a small team, who will relocate from New York.
Launched in 2002, Monarch has approximately $5.5 billion in assets under management.