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French seeding firm invests USD50m with Concerto Asset Management


NewAlpha, a French alternative investment incubation specialist, has announced its eleventh seeding agreement, a USD50m investment in a portfolio managed by Concerto Asset Management, which will inaugurate NewAlpha's third generation fund of incubated funds, launched in August.

Concerto, based in Charlotte, North Carolina, is a multistrategy asset manager with a focus on the US corporate credit asset class. The firm is headed by chief executive and chief investment officer Julie Bouhuys, who has more than 24 years' experience in the credit and distressed markets, most recently as head of fixed income credit products at Wachovia.

The Concerto team currently consists of eleven staff with extensive experience in loan and credit portfolio management and/or distressed investing, leveraged finance, credit trading and workout.

The firm will invest primarily in US leveraged loans and distressed investments, but its investment scope may also incorporate other credit asset classes. Its investing style balances fundamental credit analysis, relative value analysis and active portfolio management.

NewAlpha was established in 2003 by the ADi group, an independent French alternative fund manager founded in 1998 by Erich Bonnet and Christophe Bourret, to support the development of emerging alternative investment managers and to provide access to those managers for institutional investors through private equity-style funds of funds. NewAlpha has currently approximately USD400m under advisory.

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