Arini Capital Management’s head of US investments Gavin Yates has left the credit-focused hedge fund, marking another senior departure as the firm adjusts its investment team following a difficult period for performance, according to a report by Bloomberg.
Yates joined Arini in 2021, before the firm formally launched, and moved from London to New York in 2024. Alongside his investment responsibilities, he served as head of the firm’s New York office.
The report cites unnamed people familiar with the matter as highlighting that Ben Elliott, another member of Arini’s investment team, also departed earlier this year.
Arini reportedly declined to comment.
The departures follow a challenging July for the hedge fund, which lost about 8% after several credit positions moved against it. Losses included bets linked to Aston Martin Lagonda and credit default swaps providing protection against losses on Virgin Media debt.
The firm has also recently lost its first chief risk officer, James Howard, who departed several months ago to take up another position.
Arini is led by Hamza Lemssouguer, one of Europe’s most closely followed credit investors, whose investment style centres on large, concentrated positions that can produce substantial gains as well as sharp drawdowns.
The firm has grown rapidly since its launch and now manages about $21bn in assets. It was initially backed by investors including Squarepoint Capital, although that partnership has since ended and Arini now operates independently.
