* Yunhee Yoo to launch Cascade Ridge Capital in early 2017
* San Francisco-based firm aims to raise $150 mln - source
* Joined by Mitchell McCullough, ex-Two Ocean Capital (Adds further details about the launch)
By Maiya Keidan
LONDON, April 19 (Reuters) - Former Canyon Capital analyst Yunhee Yoo is starting her own credit hedge fund, Cascade Ridge Capital, three sources familiar with the matter told Reuters, and aims to launch in early 2017 with $150 million in assets.
She joins a growing number of high-profile women launching their own funds, among them Paulson & Co. partner Samantha Greenberg and Lone Pine-backed senior analyst Ran Li.
Cascade, though primarily a credit strategy, will occasionally buy and borrow stocks, one source said. Based in San Francisco, it will join 66 hedge fund firms that call the U.S. West Coast city home, data from industry tracker Preqin showed.
Yoo was an analyst and senior vice president at $21 billion Canyon between January 2004 and September 2008 before joining venture capital and private equity business Vector Capital, where she led the credit strategy until December 2015.
She is joined by Mitchell McCullough, former president at equities-focused Two Ocean Capital, which was dissolved in July 2015 after a two-year run when its founder and two analysts moved to $26 billion industry leader Citadel.
McCullough, who also previously headed hedge fund Standard Pacific Capital, which controlled more than $5 billion at its peak, will be head of operations at Cascade, one of the sources said. (Reporting by Maiya Keidan; editing by Simon Jessop and Susan Fenton)