Alpstar, a credit fund specialist, has announced the formation of a strategic asset recovery group, whose focus is on the restructure and recovery management of distressed fixed income
Alpstar, a credit fund specialist, has announced the formation of a strategic asset recovery group, whose focus is on the restructure and recovery management of distressed fixed income assets.
"Throughout the European continent, many fixed income investors, especially those in high grade, are now finding that their portfolios, on average, have fallen below investment grade – in some cases substantially so," says senior credit analyst Michael Curtis.
‘These managers clearly need assistance to carve out and restructure these distressed assets, so that value can be captured in any recovery scenario. In some cases, we have been asked to add additional distressed assets where the value is obvious, as a way of making a play in the sector as well."
Alpstar decided to form a dedicated group after receiving a number of requests from pension funds who needed help in restructuring their fixed income investments.
"Often clients want someone ‘at arm’s length’ to perform the restructuring," says Nicolas Bravard, co-founder of the Alpstar credit business. "Experience in distressed and asset recovery is essential, and that’s our sweet spot.’
Alpstar’s first funds were launched in 2002. The investment adviser, Mignon Genève, is an asset manager with offices in London, Geneva and Nassau.
