The partners previously invested over $2 billion of capital, and have over 150 operating partner relationships.

Hunter Street Partners, a Minneapolis-based firm, has launched to run alternative investments.

The new business is led by its chief executive Neal Johnson, who previously served as managing partner and co-chief investment officer at Isles Ranch Partners and spent nearly a decade at Värde Partners. He is also CIO at Hunter Street. The other partners include Peter Hommeyer – president, Andrew Platt – investments, and Jason Hegrenes – chief operating officer and chief financial officer.

The partners previously invested over $2 billion of capital, and have over 150 operating partner relationships, the firm said in a statement. In total, there are nine professionals at the business, having worked at firms such as Värde Partners, Merced Capital, CarVal Investments, Whitebox Advisors, and Pine River Capital Management.

Hunter Street's investment strategy will target opportunistic investments directly or through strategic operating partner relationships, such as restructuring professionals, real estate developers, and specialty lenders, by seeking market dislocations or inefficiencies frequently found in small to mid-size credit and equity investments and larger off-the-run situations.   

"As traditional capital sources under-served segments of the market and other alternative investment managers get larger, we have seen an increasing number of small and middle market operating executives looking for flexible and efficient capital partners," Hommeyer said.

Hommeyer was previously the head of business development for Whitebox Advisors and the director of research for Cantor Fitzgerald Investment Advisors. Hommeyer has also acted as a portfolio manager at Cadogan Management, BAWAG, and Bank Austria.

Platt brings more than 25 years of industry experience. He was previously a MD at Merced Capital, where he opened and managed the London office. Over the course of his career, Platt has served in a variety of investment management and business development roles at Norwest Equity Partners, GE Equity and GE Asset Management, Deephaven Capital Management, and Merrill Lynch.

Hegrenes brings 17 years of operational and financial experience across private equity, hedge funds, and financial services. Before Hunter Street, he was head of operations at Pine River Capital Management where he was responsible for a global team of over 40 individuals.