TT International (TT), an alpha-driven specialist investment manager headquartered in London, has launched the TT Credit Opportunities Strategy on its Irish UCITS platform, following the recent merger from a Luxembourg UCITS.
Portfolio Manager, Barend Pennings, launched the original strategy (previously known as Pareturn – Gladwyne Absolute Credit) in 2015. Barend and the team joined TT in January 2024, bringing the strategy with them. The Luxembourg version of the fund came under TT’s management in March 2024 and was merged onto TT’s Irish UCITS platform in January 2025.
Over the last 12 months, the team has fully integrated into TT International, duly benefitting from TT’s global network, client base, operational efficiencies and robust infrastructure. The successful integration of the strategy underlines TT’s continued evolution, with its stable now including another market-leading product to reinforce its European hedge fund heritage.
The strategy uses an opportunistic fundamental approach, with an emphasis on catalyst-driven corporate credit situations across Europe. It specialises in credits that often lack coverage from prominent brokerage houses and rating agencies, seeking to profit from mispriced risk in overlooked market segments. It has a particular edge in high-yield bonds, where size and liquidity constraints reduce competition.
Prior to founding Gladwyne Investments in 2009, Barend was a Managing Director and Portfolio Manager at Goldman Sachs, having worked there for eight years. He is supported by Deputy Portfolio Manager, Jan Mroczkowski, who previously performed fundamental analysis at Centerbridge Partners and Capstone Investment Advisors, after being an Investment Banking Analyst at Goldman Sachs. Barend and Jan have worked together successfully since 2018.
