Cairn Capital, the London based credit asset management and advisory firm, has assumed management of the Credaris Credit Fund, which pursues a liquid long-short strategy in European corporate credit.
Cairn and Credaris, the credit-specialist asset manager, have agreed that the investment team managing the fund will be added to the existing Cairn platform, which has over USD34.8bn in assets under management and long term advice.
The Credaris fund team has moved to Cairn, ensuring that the investment team will remain in place for investors. This will ensure the fund’s current organisation, investment processes and risk positioning remain consistent, while allowing the fund to access Cairn’s broader platform, customer reach, technology and research, and risk management processes.
Paul Campbell, chief executive officer of Cairn, says: “This development is a significant step in the growth and maturity of Cairn’s funds business. The fund will complement our product offerings in European ABS, hybrid bank capital and Ucits.”
Andrew Donaldson, chief executive officer of Credaris, adds: “Cairn’s position and expertise in the global credit markets have earned it an enviable reputation in modern credit risk management, which is why we have chosen to novate the existing investment management agreement from Credaris to Cairn.”
The five members of the team transferring are:
• Sam Cowan, the fund’s principal portfolio manager who rejoins Cairn where he previously worked as a senior portfolio manager before joining Credaris
• Graham Neilson, the principal architect of the fund, who joins Cairn to take a position as the company’s chief investment strategist
• Beth Fusco and Helen Rodriguez, who join Cairn’s research team as the fund’s principal analysts
• Lindsey Hobday, who will bring continuity to the investor services process by joining Cairn’s investor relations team
Donaldson will remain on the board of directors of the fund.
