ML Capital Partners With Butler On New L/S Credit Fund

Jun 5 2017 | 10:04pm ET

ML Capital has launched another UCITS-compliant alternative investment fund, this time a long/short credit vehicle in partnership with European debt specialist Butler Investment Managers.

The new fund, named the Butler Credit Opportunities UCITS Fund, will be hosted on ML Capital’s Dublin-domiciled Montlake platform. The fund will seek to generate 8-10% annualized returns with 5% volatility or lower through the credit cycle, according to Citywire, through direct and indirect exposure to corporate bonds, equities, equity-linked securities, fixed income and index instruments. 

The new fund was opened on May 15 with €40 million, with additional commitments of more than €100 million expected in the coming weeks, the article continued. It is managed by Butler’s Laurent Kenigswald, Oliver de Parcevaux and Cyril Furtak.

The new fund is the fourth such vehicle launched on the Montlake platform by ML Capital since February, after debuting an absolute return in partnership with Ed Misrahi’s Ronit Capital, a short-term systematic fund with Conquest Capital, and a convertible fund with Quest Global Advisors. It is is passported for sale in Switzerland, Germany, France, Benelux and the UK.

ML Capital’s MontLake UCITS Platform, with 23 funds, is an independent platform for UCITS vehicles providing investors with access to a range of liquid, transparent and regulated investment products. Founded in 2009, the company specializes in a range of alternative and traditional investment solutions for a global client base, with more than $3.2 billion of assets under management as of March 31, 3017 across a suite of products.

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