B Camulos Capital is moving its back-office functions to the operational platform at the $5.9 billion Mariner Investment Group. Camulos, Rich Brennan’s credit shop in Stamford, Conn., posted big losses last year and began restructuring its flagship fund on October 1 of 2008, when investors agreed to lock up their capital for another 12 months. In November 2008, as markets continued to plunge, Camulos suspended redemptions indefinitely, a move that may have saved the firm altogether: In the fourth quarter of 2008, Camulos lost about 48%.
Moving its back-office operations to Mariner, in Harrison, N.Y., will allow Camulos to focus on its investment business, which includes the flagship Camulos Master Fund (which has lost about 3.8% through July this year). CS
