Milken’s Former Manager Raises $500 Million for New Credit Fund
- Carl Meyer formed Silver Rock Financial LP to manage new fund
- Milken said to contribute several hundred million in seed cash
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The former head of Michael Milken’s family office raised more than $500 million in less than a month for a new hedge fund that will target high-yield bonds and distressed debt.
The Silver Rock Onshore Opportunistic Credit Fund is part of an effort by Carl Meyer, the ex-chief investment officer for the Milken family office, to start his own money-management firm. Meyer’s new firm, Silver Rock Financial LP, registered as an investment adviser with the U.S. Securities and Exchange Commission in March.