Picus Capital, the London-based long/short credit hedge fund manager, has completed its first year of managing the Picus Venator Fund.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
And the company has also expanded its credit team with the recent appointment of Martin Hornbuckle and Matthew Robbins.
"We are extremely pleased with our first year managing the fund and look forward to many more," said Partner and CIO William Healey. "We are active traders; during the recent market volatility this served us especially well in the high yield and CDS markets. We've also substantially built up our loan book which has performed in line with its historical low beta characteristics."
Commenting on the appointment of Hornbuckle and Robbinspartner Robert Hartmann, added: "With the addition of Martin and Matthew, we believe we have built one of the best credit teams in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Europe. Martin has 14 years of European non-investment grade credit experience having previously worked at RBS, DLJ/CSFB, where he was co-head of high yield research), Merrill Lynch and JPMorgan. Matthew has eight years of experience having spent the last four years as a high yield research analyst at DrKW and WestLB. We are very pleased to have them on board as it now raises us to a critical mass of expertise."
Picus Capital is a London-based, long/short credit hedge fund manager headed by William Healey and Robert Hartmann. They are bottom-up credit experts and active managers, investing long and short across the capital structure of non-investment grade issuers.
The primary investments are in bank loans, mezzanine debt, high yield bonds and credit default swaps with a focus on European corporate credits. The two principals in the firm have nearly 50 years experience between them in non-investment grade markets worldwide, more than half of which in Europe.