NewAlpha Asset Management, the Paris-based global hedge fund incubation specialist, has announced its 16th strategic investment with PAMLI Capital management (PAMLI), a New York-based hedge fund management firm focused on global credit investments with assets under management in excess of USD100 million.
PAMLI was founded by Faisal Syed, former Portfolio Manager of Highbridge Capital’s Credit Relative Value strategy and Co-Portfolio Manager of Highbridge’s Fixed Income Opportunity Fund. At Highbridge, Syed managed peak combined assets of USD1.2 billion and generated positive annual returns every year from 2006 to 2009. Prior to joining Highbridge, Syed worked in proprietary trading groups at JPMorgan and Credit Suisse, contributing to his decade long track-record of successful investments across credit-based asset classes. PAMLI implements actively managed relative value, long/short and directional strategies in credit-based asset classes, including corporate securities, emerging market sovereign debt, and structured credit products.
NewAlpha invested through its recently launched seeding investment vehicle, a closed-end fund dedicated to institutional investors seeking exposure to early stage managers. The investment marks a significant vote of confidence in Syed’s ability to capture meaningful opportunities in the ever-changing global financial markets, and to take advantage of relative value and directional opportunities that offer asymmetric payout profiles.
Syed is supported by an investment team that includes Jung Cho, his former Assistant Portfolio Manager at Highbridge Capital; Rick Palmon, previously a Portfolio Manager at Deutsche Bank’s fixed income proprietary trading group; and Jeremy Shor, formerly a Managing Director of Plainfield Asset Management’s Structured Product Investments Group.
Thomas DeFrancesch, previously the Director of Accounting, Finance, Operations and Valuations at Cerberus Capital Management, serves as the Chief Operating Officer and Chief Financial Officer.