Pamplona Capital Management has recruited Yves Leysen from Bear Stearns as a partner with responsibility for managing the Pamplona Credit Opportunity Fund, a multistrategy credit opportuni
Pamplona Capital Management has recruited Yves Leysen from Bear Stearns as a partner with responsibility for managing the Pamplona Credit Opportunity Fund, a multistrategy credit opportunity fund to be launched in September with USD250m in committed capital.
The new fund will have an initial focus on corporate and asset-backed credits and a longer-term interest in the distressed debt market. Leysen, who was head of fixed income in Europe at Bear Stearns, brings with him a team of professionals including Sheil Aggarwal, who ran European collateralised loan obligation and mortgage trading and Joseph Pigott, who co-headed Bear’s leveraged loan warehouse and proprietary trading activities in Europe.
‘The liquidity crisis has created real opportunities for those with a stable capital base and a top-quality credit team,’ says Pamplona chief executive Alex Knaster. ‘We could not have hoped for a better qualified or more experienced group, led by Yves with 20 years of fixed income and derivative experience and a supporting team of six professionals, many of whom have worked together over the past seven years.’
Says Leysen: ‘As a team, we have a long track record of trading and investing in mortgages, collateralised debt obligations, leveraged loans and corporate credits. These markets have seen huge dislocations and now present opportunities in both absolute and relative value terms.
‘Pamplona was the logical home for this venture given its ability to raise USD250m of term capital for our team, making this one of the largest hedge fund launches since the start of the credit crisis. In addition, Pamplona offers a valuable information and marketing network as well as synergies through its private equity and other fund management businesses.’
Established in March 2005, Pamplona Capital Management is an independent alternative asset manager specialising in private equity, funds of hedge funds and single-strategy hedge funds. The firm has more than 50 staff at offices in London, Tel Aviv, Moscow and Zug and some USD4bn in assets under management.