Saturday, 2 August 2014
Last updated 13 hours ago
May 25 2011 | 8:48am ET
Alternative asset manager Investcorp has added a credit strategy hedge fund managed by former Goldman Sachs managing director Reza Ali to its single-manager platform.
Ali’s New York-based Prosiris Capital Management is the latest fund to be added to the Investcorp platform which has $1.6 billion in client and proprietary assets under management. In addition to helping Prosiris with marketing and operational risk management support and oversight, Investcorp will provide Ali's fund with an initial investment between $50 and $100 million.
Prosiris specializes in monetizing long and short investments within the structured credit markets by managing portfolios of structured finance assets, corporate credits and credit derivatives. The Prosiris team has extensive experience in structured credit trading, credit analysis, structured finance technology and legal and regulatory analysis of credit products.
“We are fortunate that as markets continue to recover we are finding opportunities to partner with talented investment teams with specialized skills and expertise such as Prosiris,” said Deepak Gurnani, Investcorp’s head of hedge funds and CIO. “Investcorp has a deep understanding of structured credit having first invested in structured credit in late 2006 in the short sub-prime strategy. The relationship with Prosiris allows us and our investors to capitalize on the opportunities in structured credit, a market where the barriers to entry are disproportionately high relative to an estimated $1 trillion market.”
Ali, Prosiris’ CEO, has 19 years’ experience in the investment industry, including his stint with Goldman Sachs where he headed the Americas principal funding and investments group from 2006 to 2009. He previously worked at Merrill Lynch where he created the firm’s structured credit proprietary trading desk, and also headed structuring for credit derivatives in Europe.