Lyxor Partners with Chenavari Investment Managers on New Long/Short Credit Fund

Jul 30 2015 | 4:49pm ET

Lyxor Asset Management has partnered with boutique credit manager Chenavari Investment Managers to launch a new long/short credit UCITS fund. 

The new vehicle, named the Lyxor/Chenavari Credit Fund, will reportedly be a long/short credit market fund that takes advantage of niche opportunities that develop from bank disintermediation, deleveraging and general financial dislocation in Europe, according to Citywire Global.

The fund will be focus on taking a credit spread neutral approach in which it seeks absolute return consistency with both low volatility and correlations to movements in broader credit markets.

Lyxor recently inked a similar deal to launch a UCITS-compliant long/short equity fund with New York’s Corsair Capital Management. Counting the new deal with Chenavari, Lyxor has seven alternative managers on its UCITS platform.

Founded in 2008 by Loic Fery, Chenavari manages approximately $5.4 billion across both credit and structured finance products.

The new fund has been passported for sale in ten countries, and will be offered on Lyxor’s Alternative UCITS platform in a number of currencies. Winton Capital Management, Canyon Capital Advisors, Tiedemann Investment Group, Capricorn Capital Partners, Corsair Capital Management and Lyxor.

Lyxor, already well known for its fund-of-funds and indexing businesses, hopes to grow its overall assets under management to €150 billion by the end of 2018.


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