Ignis Buys Stake In Hedge Fund Castle Hill

Feb 4 2010 | 11:34am ET

British money manager Ignis Asset Management has taken a minority stake in credit hedge fund shop Castle Hill Asset Management—which has also launched a new fund.

Ignis now owns 49% of Castle Hill, which boasts more than US$2 billion in assets. The firm, which is majority-owned by its employees, also runs leveraged-loan and long/short credit assets for Ignis under a sub-advisory mandate.

As part of the deal, Ignis executives Jonathan Polin and Chris Fellingham—who joined Ignis from Soros Fund Management last month—are to join Castle Hill’s board of directors.

“Castle Hill Asset Management is thrilled to commence operations with Ignis as our partner,” the hedge fund’s chairman, Brian Bassett, said. "Having worked closely with the Ignis staff we are confident that we can benefit from Ignis's strong infrastructure, deep relationships in the market and proven experience in managing joint-venture relationships."

Meanwhile, Castle Hill also announced the launch a new credit hedge fund. The Castle Hill Total Return fund, which has been seeded with US$50 million from Castle Hill employees and associates, invests in opportunistic credit strategies and capital structure arbitrage.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR