Perella Weinberg acquires Xerion

New York, Oct. 1 - Perella Weinberg Partners announced that is has acquired Xerion Capital Partners, a New York-based investment manager that focuses on distressed credit and special situations investments.

The entire Xerion investment and business teams will join Perella Weinberg with founder and managing principal Daniel Arbess becoming a partner.

Perella Weinberg initially plans to invest $100 million in strategies managed by Arbess.

"This acquisition gives Perella Weinberg Partners a highly regarded team with a strong record of accomplishment investing in distressed and special situations just as the credit markets are presenting very dynamic opportunities," said William Kourakos, one of the founding partners of Perella Weinberg, in a news release.

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