Venor Capital Management was founded in 2005 by Jeffrey Bersh and Michael Wartell, and is a New York-based hedge fund that specializes in value and event-driven scenarios. Jeffrey Bersh is a distressed asset guru that has worked with Donaldson Lufkin, Jenrette/Credit Suisse First Boston, and Michael Wartell has extensive experience with Deutsche Bank. Venor Capital Management has an estimated $1.1 billion in assets under management.