Mon, Nov 30, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund PVE Capital finds returns in peripheral European credit

Monday, November 04, 2013

Gennaro Pucci
Beverly Chandler, Opalesque London:

An increase in US interest in peripheral European credit is flagging up opportunities for Gennaro Pucci, CIO, of PVE Capital. Launched in 2009, PVE Capital is a $300m London based hedge fund manager that specialises in credit, designed to take advantage of opportunities that exist in the global credit market landscape, particularly in Europe. Its founder and CIO Gennaro Pucci, has over 18 years of experience in credit, and eight years of experience in the hedge fund industry. His managed accounts and funds have achieved a cumulative return of 307.85% over that period.

The firm runs a traditional long/short credit fund which has had a challenging year, offset by a strong recovery in October. "We are positioned strongly for tightening of credit spreads in Europe at the end of this year and we think there is a rationale for consistent tightening still to come" Pucci says in an interview with Opalesque.

PVE invests through baskets of credit derivatives, consisting of names with wide and tight spreads which perform when there is a decrease in dispersion. Underlying securities in the baskets consist of investment grade and crossover names within the European markets. "We are primarily doing a trade long peripheral countries and corporations and short core countries" he says.

Special situation credit has given them growth of over 20% this year, with a $220m managed ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega