January 28, 2023

Boothbay Funds New Maritime Credit Strategy With $125 Million

NEW YORK–(BUSINESS WIRE)–Boothbay Fund Management LLC (“Boothbay”) and Maritime Capital, LLC (“Maritime”) announced today they are partnering to launch a new relative-value credit strategy. Boothbay has invested $125 million in the credit strategy, which will be run by Maritime. At the same time, Maritime announced that Paul Pizzolato has joined the firm as the lead portfolio manager for the new credit strategy. The Maritime Credit Strategy complements Maritime’s quantitative Fixed Income Strategies that have over a ten-year track record.

“Mr. Pizzolato’s exceptional experience and skill, combined with Maritime’s leading-edge technology and data platform provide an attractive combination,” said Ari Glass, Founding Partner and Managing Member of Boothbay. “The addition of Maritime’s new credit strategy to our portfolio aligns with our increasing expansion into liquid fixed income strategies.”

“We are pleased to partner with Boothbay to bring together Mr. Pizzolato’s expertise and Maritime’s technology platform,” said Greg Gurevich, Founding Member of Maritime. “Boothbay has an impressive track record of identifying unique talent. Mr. Pizzolato’s decades of experience in corporate trading, combined with Maritime’s quant platform and proprietary data should yield an uncorrelated product for our investors. We see this strategic partnership as an unparalleled opportunity to work with Mr. Pizzolato to grow and expand our corporate credit offerings.”

The long/short, relative value credit strategy will focus on investment grade and high yield corporate credit.

“Maritime’s quant platform provides leading-edge technology to compete in the rapidly changing 13 trillion-dollar credit market,” said Mr. Pizzolato. “I am excited for opportunities created by the partnership with Boothbay and Maritime.”

Mr. Pizzolato has over 20 years of experience in trading corporate markets. He joins Maritime from Credit Suisse Asset Management (CSAM), where he was the Portfolio Manager of Systematic Credit of the QT Fund, Credit Suisse’s quant hedge fund. Prior to Credit Suisse, Mr. Pizzolato was President and Credit Portfolio Manager at Manchac Capital. Before joining Manchac, Mr. Pizzolato, as a Portfolio Manager for North American Credit, managed capital for over 13 years at Paloma Partners.

About Boothbay Fund Management and Maritime Capital, LLC

Boothbay Fund Management, LLC (“Boothbay”) is an investment firm established by Ari Glass. Boothbay manages two global market neutral multi-PM funds with over $3.5BN of capital allocations to 90+ strategies. The firm seeks to generate repeatable absolute returns with minimal volatility and correlation to traditional asset classes through all market conditions. The funds’ portfolios are dynamically managed for risk and capital allocations and include a focus on niche strategies.

Maritime Capital, LLC was formed in February 2010 by managing member Greg Gurevich. Maritime’s broad range of quantitative strategies includes Municipal Bonds, Corporate Bonds, Market Neutral Equities and Volatility. Maritime manages approximately $600 million in client assets for institutional clients.

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