Lombard Odier Investment Managers Debuts New Event-Driven Convexity Fund

Jan 31 2017 | 9:56pm ET

Lombard Odier's asset management division has expanded its alternative investment offerings with the launch of a new event-driven convexity strategy within its 1798 hedge fund platform.

The new fund, which debuts with more than $100 million in committed capital, is named the 1798 Event Convexity Strategy, according to a statement. It will be managed by former Birch Grove Capital partner Christophe Thomas, and focus on building asymmetric risk profiles around events using intra-capital structure dislocations. 

This approach enhances traditional fundamental event driven analysis with the convexity available from the combination of equities, credit and related financial derivatives, the statement said.  

“We’ve sought to offer differentiated strategies which embed convexity at the position level, where the emphasis is on structuring trades, rather than finding attractive valuations,” said Jean-Pascal Porcherot, head of Lombard Odier IM’s 1798 hedge fund platform, in the statement. “Our new strategy leverages the team’s expertise in trading and analyzing multiple asset classes to identify the frequent mispricing of events across the capital structure.”

The launch comes shortly after Lombard Odier IM’s November 2015 lift-out of AlphaGen Capital’s Volantis investment management team, which manages more than $1 billion in U.K. equity long/short and long-only strategies. It is now also part of the 1798 platform, which was formed in 2007 and offers equity long/short, event driven, macro, relative value, and alternative risk premia strategies. 

Headquartered in Geneva and founded more than 220 years ago, Lombard Odier is a leading global wealth and asset manager. The firm as a whole managed Sfr. 223 billion as of September 30, 2016, while its Lombard Odier Investment Managers unit manages approximately $4.2 billion in alternative investments. 

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