Credit Suisse-Qatar Venture Seeds Pioneer Vet

Sep 26 2013 | 10:54am ET

Credit Suisse joint-venture Aventicum Holdings will back a new hedge fund launched by former Pioneer Alternative Investments chief investment officer Luca Mengoni.

Mengoni's fund will employ a European long/short equity strategy and is expected to debut by the end of the year, Financial News reports. The Geneva-based firm will have eight employees, including six Pioneer veterans who worked under Mengoni.

The new fund is the fifth to be seeded by Aventicum, set up last year by Credit Suisse and Qatar Holding. The vehicle allows Credit Suisse to continue to play a role in the hedge fund industry while complying with the U.S. Volcker rule, which strictly limits banks' alternative investment activities.

"One of the benefits of this partnership is that it allows us to seed and run businesses that we can no longer do in a bank-affiliated manager," Martin Keller, head of asset management for Europe, the Middle East and Africa at Credit Suisse, said. Keller also serves as Aventicum's chairman.

The size of Aventicum's seed to Mengoni's firm is unclear. After its launch, however, Aventicum plans to seek out emerging markets credit, opportunistic real-estate managers private-equity infrastructure managers for launch next year.


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