Hedge Fund Incubator NewAlpha Invests In PAMLI

Jun 1 2011 | 8:20am ET

Paris-based hedge fund incubator NewAlpha Asset Management has invested in New York’s PAMLI Capital Management, a credit specialist with AUM of $100 million.

PAMLI was founded by former Highbridge Capital portfolio manager Faisal Syed. Prior to Highbridge, Syed worked in proprietary trading groups at JPMorgan and Credit Suisse. His new fund implements actively managed relative value, long/short and directional strategies in credit-based asset classes, including corporate securities, emerging market sovereign debt, and structured credit products.

NewAlpha invested through its recently launched seeding investment vehicle, a closed-end fund dedicated to institutional investors seeking exposure to early stage managers.

Syed’s investment team includes Jung Cho, his former assistant portfolio manager at Highbridge Capital; Rick Palmon, previously a portfolio manager at Deutsche Bank’s fixed income proprietary trading group; and Jeremy Shor, formerly a managing director of Plainfield Asset Management’s Structured Product Investments Group. Thomas DeFrancesch, previously the director of accounting, finance, operations and valuations at Cerberus Capital Management, serves as the chief operating officer and chief financial officer

PAMLI marks NewAlpha’s 16th strategic partnership and brings its total investments in early stage managers to $650 million.

NewAlpha Asset Management is a subsidiary of OFI Asset Management which has more than €49 billion under management.

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