Opalesque Solutions

Cross Sound Distressed Opportunities Fund, L.P. - Series 3

Cross Sound Management LLC

Company Overview

Cross Sound was founded in April 2016 by Arif Gangat and David Dunn (the “Managers”) and the Fund was launched in May 2016. Together they have more than 35 years of investing experience, spanning multiple distressed cycles. Immediately prior to forming Cross Sound, the Managers worked together for 5 years at Arrowgrass Capital Partners. During this time, the Managers forged a strong partnership built on their complementary skill sets, including fundamental, legal and restructuring process expertise. Cross Sound’s seed investor is the Sierentz Group, a family office formed by members of the Louis-Dreyfus family.

Fund Strategy

This strategy will focus on generating yield and income for investors by investing in pre-default/pre-event loans, exit loans, rescue financings and debtor-in-possession loans supported by hard asset coverage. Unlike many of the high yield and direct lending funds in the marketplace today which generally employ a buy-and-hold approach to investing, our team will seek to actively influence loan events (e.g., through asset sale(s), re-financings, etc.) via creditors’ committee participation, engagement with their advisor network and interaction with company management and boards. A vast majority of the loans in the portfolio will be readily marketable, transparent and have real time pricing.

Quick Facts

  • Event-Driven » Distressed Securities
Inception Date: 2017-01
Monthly Performance Data:
Feb 0.67%

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