New Haven, Conn-based Wood Creek Capital Management, has announced the launch of Rosemount Capital Management’s offshore fund.
New Haven, Conn-based Wood Creek Capital Management, has announced the launch of Rosemount Capital Management’s offshore fund. Rosemount Capital Management is an affiliate of Wood Creek Capital.
The offshore fund is managed out of Rosemount’s Dublin, Ireland offices and will pursue the same strategy of directly originating, structuring and syndicating global trade finance obligations as Rosemount’s onshore fund, which was launched in December 2005.
Launched on 1 August this year, Rosemount’s new offshore fund was created in order to meet offshore demand for trade finance exposure. With a staff of 14 full-time professionals, Rosemount has built up an enviable reputation as a leading provider of trade finance debt to mid-sized companies located primarily in Latin America and Eastern Europe. Rosemount was the first non-financial institution to win the Global Trade Review’s “Best Deals of 2006” and “Best Deals of 2007”. Wood Creek seeded Rosemount’s domestic fund in December 2005. Since then, Rosemount has directly originated over USD 500 million of primary market loans as well as transacted over USD 1.2 billion in primary and secondary market deals.
Brett Hellerman, CEO of Wood Creek Capital, says,”The launch of Rosemount Global Trade Finance’s new offshore fund is a significant step in realizing the long-term market opportunity Wood Creek Capital sees in facilitating cross-border trade through non-traditional sources of capital. The fact that it comes at an unusually difficult time for alternative investments in general and hedge funds in particular, speaks to our long-term commitment to this strategy and to Rosemount.”
“We expect the rest of 2008 to be extremely active in establishing new partnerships such as our relationship with Rosemount,” says Jonathan Rotolo, Chief Operating Officer of Wood Creek Capital. “This is an excellent time to move into a number of markets and disintermediate traditional capital providers like commercial and investment banks.”
Rosemount has carved out a significant presence in the market as an efficient provider of trade finance debt to emerging market borrowers. Investment strategies, such as Rosemount’s, have become increasingly appealing as an alternative to portfolios of financial securities.
Wood Creek’s other affiliated funds are actively making investments into music copyrights, mature branded drugs, technology patents, commodity finance and says Rotolo “our pipeline of deals has never been more robust.”