Black Enterprise- A team of young managers formerly with hedge fund Brahman Capital is preparing to launch a fund in August to focus on Western European turnaround situations, the firm’s founder said.

Cara Goldenberg, a 27-year-old former star investor and partner at the $3 billion Brahman Capital, heads the new firm, called Permian Investment Partners. She is joined by former Brahman colleagues Alex Duran and Scott Hendrickson.

New York-based Permian hopes to raise some $200 million this year, mostly from wealthy individuals and families, said Ms. Goldenberg. The firm was seeded with what it said was a "sizable" investment from Privet Capital, a family investment firm.

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