Wednesday, 6 May 2015
Last updated 21 hours ago
Apr 14 2011 | 1:38am ET
Liontrust Asset Management has sold its credit business—and two hedge funds it manages—to long-only manager Avoca Credit Holdings, marking the latter’s first foray into hedge funds.
The deal gives Avoca Liontrust’s decade-old Credit Fund and the UCITS III-compliant Credit Absolute Return Fund, launched last year. Combined, the two funds manage more than $100 million, about three-quarters of which is in the UCITS fund.
Moving from Liontrust to Avoca is the former’s London-based credit team, led by fund manager Simon Thorp. In addition, senior portfolio manager James Sdater, senior analysts Paul Owens and Quentin Peacock and operations manager Gareth Roblin. The five, who joined Liontrust in 2009 when it acquired Ilex Asset Management, will remain based in the British capital.
“Liontrust acquired these guys a couple of years ago and they’ve done a great job launching a UCITS fund that’s been very productive for them and been very attractive for us,” Clayton Perry, chief operating officer at Dublin-based Avoca, said.
Perry said Avoca would work to increase the two funds’ assets under management.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…