Singer’s Elliott Backs Credit Veteran Maji’s New CLO Hedge Fund

Billionaire Paul Singer’s Elliott Investment Management is backing credit specialist Debdeep Maji’s new hedge fund, the latest move in a wave of multistrategy firms tapping outside talent to help manage their billions.

Elliott is investing more than $100 million in Maji’s 37Spruce Investment Partners, which is expected to start trading later this year with a focus on collateralized loan obligations, according to people familiar with the matter.