Connecticut-based Aladdin Capital Holdings has announced the launch of a fund to invest exclusively in debtor-in-possession facilities.
Connecticut-based Aladdin Capital Holdings has announced the launch of a fund to invest exclusively in debtor-in-possession facilities.
Aladdin says the restructuring finance market is experiencing a massive dislocation, providing historical opportunities upon which it seeks to capitalise.
Neal Neilinger, vice-chairman and chief investment officer of Aladdin (pictured), says: ‘This new offering will be a debtor-in-possession fund and the first of its kind. The fund will participate, structure, and lend directly into both large-cap and mid-cap facilities.’
Victor Russo and Luke Gosselin will be global co-heads and co-portfolio managers of the fund.
Russo previously spent 22 years at CIT Group and its predecessor companies, most recently as president of CIT Business Credit.
Gosselin spent the past five years at Goldman Sachs, most recently as head of private principal finance in New York and London.
Previously, Russo and Gosselin worked closely together at CIT Group for almost ten years.
Last week Aladdin Capital announced the appointments of John Carroll as a managing director and global head of securitised product and of David Attisani as a managing director in charge of broker-dealer sales and marketing.
The appointments will be based in Aladdin’s Stamford headquarters, with Carroll overseeing sales and trading staff in Stamford and London and reporting directly to Neilinger.
The appointments follow Aladdin’s announcement that it is restructuring globally in 2009 to capitalise on market opportunities. The firm seeks to achieve growth by developing its advisory and investment banking businesses, together with its sales and trading and traditional asset management areas through key senior hires and an opportunistic acquisitions strategy.
Founded in 1999 with the primary goal of providing sophisticated investors with non-traditional fixed income products, Aladdin specialises in the management of fixed income alternative investments, including hedge funds, collateralized debt obligations and structured investment vehicles.
