Greenwich-based FrontPoint Partners LLC has added a credit relative value team led by Robert Wenzel and Robert Smalley and based out of New York.
The team, previously at Clinton Group, represents the tenth strategy for FrontPoint and further broadens the number of specialized strategies that the firm offers investors.
Robert Wenzel said: "Joining FrontPoint provides our team with world-class risk management, trading and operational infrastructure. FrontPoint also enables us to invest with the knowledge of having a high quality investor base who understands our approach to relative value credit investing," Robert Wenzel stated.
Smalley added: "We believe there are strong market opportunities throughout the credit spectrum and we hope to exploit these using our fundamental credit research and trading expertise."
The strategy will integrate the new team's diverse skill set by employing fundamental and quantitative analysis to identify and dynamically allocate to the best risk/reward opportunities across the credit spectrum. The team will utilize a relative value approach to the global credit, structured credit and credit derivative markets.
Wenzel joins FrontPoint from Clinton Group where he was a senior portfolio manager in charge of Credit Arbitrage overseeing a team of credit traders. He brings 12 years of experience in the fixed income markets with a specialization in credit derivatives.
Smalley also joins FrontPoint from Clinton Group where he was Director of Credit Research overseeing a team of sector-specialized credit analysts. He brings 14 years of credit analysis experience having run credit research at HSBC and having worked as a credit analyst at Morgan Stanley and Lehman Brothers.
FrontPoint Partners was founded in November 2000 by Philip Duff and Gil Caffray, both former Tiger Management executives, and Paul Ghaffari, previously with Soros Fund Management.