Harcourt Investment Consulting has launched Belmont (Lux) Recovery, a diversified fund of hedge funds dedicated to credit and distressed assets.
Harcourt Investment Consulting has launched Belmont (Lux) Recovery, a diversified fund of hedge funds dedicated to credit and distressed assets.
The fund is comprised of hedge funds engaging in the debt of companies which are stressed, in financial distress, undergoing bankruptcy or major restructurings. The fund’s managers are diversified by geography, style and industry sectors.
Harcourt says the opportunities in the credit and distressed space today are sizeable and abundant.
In combination with the fund’s diversification, Belmont (Lux) Recovery aims to offer a stable return profile while keeping correlation to equity and fixed income markets low.
The target is to achieve consistent annualized returns of Libor+800 bps net of fees, with a Sharpe ratio close to 1.4. The fund will invest in 15 to 20 managers.
Harcourt has been an active investor in the distressed space for a number of years.
