Mudrick Capital to Take Over CVC Global Credit Hedge Fund

Distressed-debt investment firm Mudrick Capital Management will take over a credit hedge fund previously run by CVC Credit Partners.

The CVC Global Credit Opportunities Fund Ltd., which focuses on distressed credit, will be run by Mudrick Capital, according to according to a person familiar with the deal. Fund managers Oscar Anderson and Scott Bynum, will join Mudrick Capital from CVC and continue to steer the fund, the person added.

CVC had been looking for a new home for the fund as part of a broader change in strategy for the private equity giant’s credit division, Bloomberg reported in ...