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Alternative Market Briefing

Prytania Group expands structured credit offering

Wednesday, May 31, 2017

Bailey McCann, Opalesque New York:

$1.1 billion structured credit hedge fund, Prytania Group, based in London, is expanding its investing business line after recently spinning off its consulting business.

In March, Prytania Group announced that it was splitting up its two main training entities - Prytania Investment Advisors and Prytania Solutions. The demerger agreement will make the consulting business totally independent from the investment business and avoid any potential future conflicts of interest. The demerged entities will each retain the Prytania name for now and PIA will rebrand as Prytania Asset Management (PAM). Mark Hale, currently CIO of PIA, becomes CEO of PAM.

The split is expected to be finalized by the end of the quarter and with that, the investment team has set its sites on a new European structured credit offering. According to Julie Lohrmann, Investor Relations Advisor at PIA, the US investor base has been gravitating to return profile in off-the-run European structured credit. These European opportunities have become popular as portfolio diversifiers as the European economy begins to rebound.

Prytania hasn't decided yet if the new product will be offered as a credit fund or as a menu of options for separately managed accounts - the firm already offers both for its other strategies. However, unlike other structured credit funds, Prytania is seeking out fairly niche opportunities that are a little off the beaten path from other stru......................

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