(Bloomberg) MeehanCombs LP, a Stamford, Connecticut-based firm focusing on stressed and distressed credits in the U.S. and Europe, saw assets under management decline by about one-third from a peak of $300 million last year, President Eli Combs said Monday in a telephone interview. The fund was down about 6 percent in 2014 and 7 percent this year.
The fund, which was started in March 2013, suffered from losses on corporate debt bets as a slow economic recovery in Europe weighed on investments such as banks, Combs said.