Reservoir Capital is in advanced discussions to seed ex-Goldman Sachs executive Buckley “Buck” Ratchford with $200 million to $250 million for his new hedge fund, according to people close to the negotiations.
Ratchford was formerly head of global bank loan trading and distressed investing at Goldman Sachs. He plans to begin trading in the fourth quarter or early next year with a distressed-credit and event-driven strategy. The deal would be one of the largest in recent memory from a seeding platform. Others in the seeding camp, including the Blackstone Group and Goldman Sachs Asset Management, have historically doled out between $100 million and $150 million to new managers.
Blackstone Group ex-Goldman Sachs Reservoir Capital Goldman Sachs Asset Management Buckley “Buck” Ratchford
