Fri, Nov 24, 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. Tourbillon Capital, a $3.4bn hedge fund that's been sounding the alarm about 'frothy speculation,' is suffering big losses[more]

    From Businessinsider.com: Tourbillon Capital, a $3.4 billion hedge fund firm led by Jason Karp, is suffering. The firm's flagship Global Master fund is down 3.5% for the first 17 days of November, bringing performance for the year to November 17 to a loss of 10.6%, according to a note to investors s

  2. Fund Profile - The Tiger of Silicon Valley: Glen Kacher's sizzling hedge fund[more]

    From Forbes.com: When you live and work in a town where the median home costs $2.7 million and hobnob with the executives of billionaire factories like Facebook and Tesla, it's easy to see why you might think technology stocks are invincible. So far in 2017, the Nasdaq Composite index has gained 25%

  3. Launches - Asset manager launches Europe's first bitcoin mutual fund, Prime Capital Aviation Debt Fund enables aviation debt investments for institutional investors[more]

    Asset manager launches Europe's first bitcoin mutual fund From Coindesk.com: A French asset manager has announced the launch of Europe's first mutual fund centered around bitcoin. Announced today, Tobam's alternative investment fund perhaps represents the latest bid to attract institutio

  4. Legal - Consumers say hedge fund financed illegal tribal lending, New York's highest court permits shareholder of a Cayman-incorporated company to bypass Cayman law and bring derivative action in New York[more]

    Consumers say hedge fund financed illegal tribal lending From Law360.com: Vermont residents on Tuesday hit a hedge fund with a proposed class action in federal court alleging it helped concoct a sham tribal payday lending scheme meant to skirt laws preventing companies from charging cons

  5. Investing - Tech still hedge funds' sweetheart sector: Goldman Sachs, Hedge funds haven't been this leveraged to buy stocks since the bull market began, Top financials hedge fund details short bet against Morningstar, Fund CRC presents an offer for Carige's consumer credit unit, Hedge funds sell shares in Altice USA after difficult quarter[more]

    Tech still hedge funds' sweetheart sector: Goldman Sachs From Reuters.com: Tech stocks remain the largest net sector exposure for equity hedge funds, which are set to deliver their strongest returns since 2013, Goldman Sachs said on Wednesday in a note on the industry's most and l