Sunday, 3 May 2015
Last updated 1 day ago
Oct 20 2008 | 3:49pm ET
London-based Chenavari Credit Partners is currently prepping its first hedge fund to invest in the credit market.
The firm will launch the Chenavari Credit Dislocation Fund sometime within the next few months with an expected US$75 million to US$100 million.
Managing partner Loic Fery said the fund will pursue convexity in the market.
"It will have a market neutral approach to credit spread so it's not a distressed fund," said Fery. "We may be readying a distressed fund afterwards but, at the moment, we think it's still too early for that: Our priority is to benefit from current credit market volatility, through specific strategies, with as much convexity as possible"
Fery said the firm, which opened its doors in May, has been seeded by European banks and family offices to run credit volatility strategies in managed accounts. Fery's firm has also been awarded investment management mandate from multi-managers such as West LB Mellon to make credit arbitrage plays.
Prior to founding the firm, Fery was a managing director and global head of structured credit at Calyon.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…