Grosvenor Seeds Citadel Vet Scherer's ABS Fund

Jan 22 2013 | 11:30am ET

Grosvenor Capital Management has seeded Citadel vet Kevin Scherer's new structured fixed income fund, Continuum Investment Management, with $85 million.

Scherer formerly managed the Single Investor Fund at Citadel. Prior to that, he spent eight years at the mortgage-focused hedge fund The Midway Group, which he co-founded in 2000.

Scherer has been joined at Continuum by a team of his colleagues from Citadel including Brian McDonald, senior portfolio manager; Jimmy Rizos, CTO; Stephen Cameron, head of research. McDonald and Rizos held similar posts at Citadel, while Cameron was a quantitative mortgage strategist. Continuum's chief operating officer, Greg Scarffe, joins the firm from Credit Suisse Prime Services.

Continuum seeks to capitalize on prepayment and credit-centric market opportunities across residential mortgage-backed securities, commercial mortgage-backed securities and other asset-backed securities.

Said Scherer in a statement: "Our integrated multi-strategy platform and experienced team offers investors a single point of entry to a broad opportunity set in securitized products investing. We are excited about our strategic partnership with Grosvenor Capital Management, and look forward to producing attractive returns for our investors."

It's the third such deal Grosvenor, an alternative investment giant with over $22 billion in assets under management, has entered since launching its most recent emerging managers program in early 2012.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of