Sun, Jan 22, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge fund Prosiris Capital secures assets from Investcorp and place on single manager platform

Wednesday, May 25, 2011
Opalesque Industry Update - Investcorp, the alternative asset manager, and Prosiris Capital Management, a New York based hedge fund manager led by former Goldman Sachs managing director Reza Ali, announced that they have formed a strategic partnership that will provide Prosiris with support and stable growth capital while giving Investcorp and its investors access to a specialized credit oriented strategy.

Prosiris will become the latest investment advisor on Investcorp's Single Manager Platform, which has a total of $1.6 billion in client and proprietary assets under management. Investcorp will provide Prosiris with an initial investment and will also provide marketing and operational risk management support and oversight. Investcorp generally provides an initial investment ranging from $50 million to $100 million in funds to be managed by the single managers.

Prosiris specializes in monetizing long and short investments within the structured credit markets by managing portfolios of structured finance assets, corporate credits and credit derivatives. The Prosiris team has extensive experience in structured credit trading, credit analysis, structured finance technology and legal and regulatory analysis of credit products.

"We are fortunate that as markets continue to recover we are finding opportunities to partner with talented investment teams with specialized skills and expertise such as Prosiris," said Deepak Gurnani, Investcorp's head of hedge funds and Chief Investment Officer. "Investcorp has a deep understanding of structured credit having first invested in structured credit in late 2006 in the short sub-prime strategy. The relationship with Prosiris allows us and our investors to capitalize on the opportunities in structured credit, a market where the barriers to entry are disproportionately high relative to an estimated $1 trillion market."

Reza Ali, who is Prosiris's Chief Executive Officer, has investment industry experience spanning 19 years during which he managed assets through some of the credit market's most significant moments of upheaval, including the Russian debt crisis in 1998 and the subsequent bailout of Long-term Capital Management, as well as the US credit crisis that began in 2007.

Most recently, Mr. Ali headed the Americas Principal Funding and Investments Group at Goldman Sachs, where, from 2006 to 2009, he successfully managed a multi-billion dollar portfolio of credit and structured finance assets and credit derivatives. He previously worked at Merrill Lynch where he created the firm's structured credit proprietary trading desk, and also headed structuring for credit derivatives in Europe.

"Reza is one of the most experienced and proven managers in the complex credit and structured finance space," said Nick Vamvakas, head of development for Investcorp's single manager platform. "By our estimates, his team at Prosiris could manage a multi-billion dollar portfolio given their range of skills and the opportunity set in the market today." Prosiris will be a six person team at launch, but plans to make additions in the near-term. The investment team has worked together on average for more than seven years in past positions.

"We have found a rare partner in Investcorp, one with the wisdom and judgment of a hedge fund investor as well as a seeder," said Prosiris's Reza Ali. "Pairing their investment and operational risk management infrastructure with our expertise in credit and structured finance will create a bridge to institutional investors that is uncommon for an early stage investment fund."

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised