A new London-based investment partnership, Ironshield Capital Management LLP, has been formed to focus on investing in European stressed and distressed debt and equity special situations.
Ironshield Capital Management is led by David Nazar, most recently a Principal at Bank of America in London. At Bank of America, he served as head of the European special situations trading desk, where he was responsible for European operations, including the bank's proprietary investment book.
Nazar and the Ironshield Capital Management team employ an intensive, research-driven investment process. In implementing its strategy, Ironshield Capital Management will pursue a combination of high-return, low-correlation opportunities, as well as lower-risk, more-liquid situations. Investments will be made in exchange and over-the-counter markets, private and public debt such as bank loans, new money lending, bonds, trade claims, trade insurance, consumer and commercial receivables, lease claims, loans backed by real estate, listed and unlisted common stock, preferred and convertible stock.
Ironshield Capital Management has received a strategic investment from SkyBridge Capital, LLC, which provides strategic capital to talented managers who are developing new hedge funds. SkyBridge Capital will invest from its SkyBridge Capital Partners, L.P. and SkyBridge Capital (Cayman) Ltd. Funds, as well as devote a team of professionals to provide Ironshield Capital Management with business-building support.
"We believe that there will be a substantial future flow of stressed and distressed debt investment opportunities in Europe as companies -- particularly those with highly levered capital structures put in place at a time of more certain economic prospects and lower interest rates -- come under financial pressure,' said Nazar. 'Our partnership with our new strategic investor, SkyBridge Capital, is timely, providing us with long-term capital, as well as a unique network of strategic relationships that will position us to capture these opportunities and deliver meaningful returns to our investors.'
Ironshield Capital Management LLP will launch its Ironshield Special Situations Fund in mid-2007.