New London Hedge Fund Preps Maiden Credit Offering

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.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of