Lombard Odier Investment Managers has hired ex-Sandell Asset Management event driven specialist Raj Davé to run a new fund within its hedge fund and alternative investment unit, 1798 Alternatives, focusing on special situations and event driven opportunities.
In his new role Davé, who reports to Christophe Khaw, CIO of LIOM’s 1798 Alternatives, will trade opportunities across the capital structure, and aim to generate returns with low correlation to traditional equity and fixed income markets.
New York-based Davé has more than 20 years’ experience trading high yield, distressed and event driven markets. He previously managed the distressed credit fund, Torgos Credit Opportunities, at Sandell for seven years. Earlier, he had been a proprietary credit trader at Citigroup, Morgan Stanley and Commerzbank, and a portfolio manager at Diamond Notch Asset Management. He began his career in investment banking and leveraged finance at UBS and Credit Suisse, respectively.
Torgos was named Best Distressed Debt Hedge Fund category at the 2020 Hedgeweek US Awards in December.
The new hire continues the growth of LOIM’s 1798 Alternatives franchise, which now runs more than USD5.5 billion in liquid alternatives and hedge funds. Last month, the unit appointed Peter Pulkkinen and Rhys Marsh to develop sustainable private credit strategies.
Commenting on the trio of recent hires, Jean-Pascal Porcherot, CEO of 1798 Alternatives at LOIM, said: “Their credibility, track record and strong cultural fit are highly valuable, as we continue to expand our offering of sophisticated, differentiated strategies to deliver strong returns for investors.”
LOIM, the asset management business of the Lombard Odier Group, manages a wide range of investments, spanning the fixed income, convertible bonds, equities, multi-asset and alternatives sectors. The firm has some CHF63 billion (USD67.8 billion) of assets under management.
