Conn. Firm Boosts London Presence With Fusion Pair, Hedge Fund

Oct 27 2006 | 11:44am ET

Continuing to build its presence in London, Aladdin Capital Management has added a pair of Goldman Sachs veterans to its six-month-old office in the U.K.

John Brewer and Tim Goodale, recently principals at Fusion Asset Management, bring with them their Fusion Relative Value Credit Fund, which is to be renamed the Aladdin Relative Value Fund. They join Peter Allan, who came to Aladdin earlier this year to manage its European loan business.

“We’re looking to have a larger, more thorough global footprint,” explains Stamford, Conn.-based Aladdin’s George Marshman. “We like the personnel involved a lot. For us, it’s an opportunity to expand on the success we’ve had on our credit funds here in the U.S. and other aspects of the business that we hope to replicate in London.”

Marshman declined to say how large the Relative Value Credit fund is currently; it was seeded with US$25 million at the end of 2004.

In addition to adding Brewer, Goodale and their fund, the firm is prepping its first European collateralized loan obligation and its new Aladdin New Alternatives hedge fund, which will invest primarily in securitized instruments.

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