Tudor Investment Corp. launched a credit investment strategy spearheaded by five former Bear Stearns distressed-debt executives and analysts. The hedge fund joins a growing list of prominent financial institutions scooping up talent in the wake of Bear's shotgun wedding with JPMorgan Chase.

Gregory Hanley and Alan Mintz will establish Tudor's new investment management business focused on credit-related strategies, the company said. The two had co-led Bear's distressed debt team, and Hanley also served as co-head of high yield trading.

Hanley worked at Bear since 1985 and was a member of its board of directors sincce 2003. He has a B.S. in business administration from Villanova University. Mintz, who joined Bear in 1997, is a CPA and a graduate of Boston University.

Three other senior members of Tudor's new credit-related team also hail from Bear Stearns: Mitchell Sussman, Eric Friel and Howard Norowitz.

Tudor says the new team and credit-related investment management business will eventually be spun off as an independent investment advisory business in which Tudor will be a strategic partner. "Tudor will support this initiative with funding commitments and other, ongoing strategic guidance and support," the fund company says.

"The dislocation and lack of liquidity in credit-related strategies have created significant investment opportunities," said Paul Tudor Jones II, founder of Tudor Investment Corp.