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Alternative Market Briefing

LNG’s 'small and nimble’ European credit fund achieves high teens performance

Tuesday, April 23, 2013

By Beverly Chandler, Opalesque London:

LNG Capital’s managing partner and chief investment officer Louis Gargour is something of a hedge fund industry veteran in the credit and fixed income space having merged his Taurus Investment Management with RAB Capital in 2001 and built that fixed income business to over $1bn from scratch.

"We experienced the ups and downs of market cycles and pressures of growing a business" Gargour says. His team at $52m LNG Capital has worked together for 11 years, through a number of hedge fund environments. "The business risks are mitigated by the fact that we have a dedicated institutional backer, combined with our asset class experience" Gargour says. Describing his LNG Europa Credit fund as 'small and nimble’ Gargour explains that it is achieving annualised returns of 19% with 7.5% of performance so far this year.

LNG was partly seeded by its institutional partners, Atlantic Asset Management and Montage Alternative Advisors through a joint venture from Palmer Square Capital. Investment beyond that has come from family offices, private banks and funds of funds.

The fund is European focused looking for a broad spectrum of potential opportunities in high yield, investment grade, event driven, relative value and special situations in Europe. Investment style is top down and bottom up while research is conducted through a network of established "on the ground" relationships inWes......................

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