Ironshield Capital Management, the London-based long/short event driven hedge fund that trades stressed and distressed European corporate credit, has launched its Ironshield Credit Fund on the MontLake UCITS Platform, with the aim of capitalising on recent credit market dislocations.
The strategy, managed by Ironshield CIO and managing partner David Nazar, targets high absolute returns by trading event driven, stressed and distressed European high yield credits across the capital structure and ratings spectrum.
Nazar – who managed proprietary credit portfolios for Deutsche Bank and Bank of America before founding Ironshield in 2007 – said the fund’s UCITS format launches as the prevailing investment landscape is “reset” by the volatility spike.
The portfolio comprises both long and short, liquid, single name credit positions, along with actively traded bonds, credit default swaps, and other corporate securities.
“Our high alpha and low correlation return stream can be a powerful source of results for investors as well as acting as a diversifier in investors’ portfolios,” said Nazar, who also worked as an investment banker for Goldman Sachs and Salomon Brothers. “We are looking forward to leveraging our expertise and nimble approach to take advantage of market dislocations on behalf of our investors.”
Commenting on the launch, Cyril Delamare, CEO of MontLake, whose product offering spans UCITS, alternative UCITS, hedge funds, real estate, infrastructure and private equity, said: “The fund has a unique return profile and compliments our wide array of product offerings. Ironshield’s long history and track record in European event driven credit markets is something we are very pleased to offer to our investors.”
