Such is the fate of former distressed debt god Dan Zwirn, who was one of the more impressive flame outs of early 2008, at a time when the credit crisis was only in its warm up acts. According to today's Hedge Fund Alert, Dan Zwirn, whose DB Zwirn Co. fund was a $10 billion heap of toxic 2nd lien assets at is peak, has "updated his resume and is looking for fund management work. He already has held discussions with several firms." Looks like his attempt to raise a new fund, ZLC, has met with spectacular failure. What is appalling is that he is trying to leave DB Zwirn at a time when the fund is only about 20% done with unwinding its ultra illiquid assets, and "is talking to investors about installing new management to oversee the liquidation of D.B. Zwirn funds, a process that could take four years." Nothing like leaving your existing employees to sort out the mess you created.
The 37 year old, who is clearly missing the glory days of corporate jetdom, was last seen waiting to hear back from headhunters if they had any medium-level analyst openings.Sphere: Related Content Print this post