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NewAlpha Asset Management seeds New York-based credit hedge fund

Wednesday, June 01, 2011
Opalesque Industry Update - NewAlpha Asset Management, the Paris-based global hedge fund incubation specialist, is pleased to announce its 16th strate- gic investment with PAMLI Capital Management LLC (“PAMLI”), a New York-based hedge fund management firm focused on global credit investments with assets under management in excess of $100 million.

PAMLI was founded by Faisal Syed, former Portfolio Manager of Highbridge Capital’s Credit Relative Value strategy and Co-Portfolio Manager of Highbridge’s Fixed Income Opportunity Fund. At Highbridge, Mr. Syed managed peak combined assets of $1.2 billion and generated positive annual returns every year from 2006 to 2009. Prior to joining Highbridge, Mr. Syed wor- ked in proprietary trading groups at JPMorgan and Credit Suisse, contributing to his decade long track-record of successful investments across credit-based asset classes. PAMLI implements actively managed relative value, long/short and directional strategies in credit-based asset classes, including corporate securities, emerging market sovereign debt, and structured credit products.

NewAlpha invested through its recently launched seeding investment vehicle, a closed-end fund dedicated to institutional investors seeking exposure to early stage managers. The investment marks a significant vote of confidence in Mr. Syed’s ability to capture meaningful opportunities in the ever-changing global financial markets, and to take advantage of relative value and directional opportunities that offer asymmetric payout profiles.

Mr. Syed is supported by an investment team that includes Mr. Jung Cho, his former Assistant Portfolio Manager at Highbridge Capital; Mr. Rick Palmon, previously a Portfolio Manager at Deutsche Bank’s fixed income proprietary trading group; and Mr. Jeremy Shor, formerly a Managing Director of Plainfield Asset Management’s Structured Product Investments Group. Mr. Thomas DeFrancesch, previously the Director of Accounting, Finance, Operations and Valuations at Cerberus Capital Management, serves as the Chief Operating Officer and Chief Financial Officer.

NewAlpha was established in 2003 to provide access to emerging alternative investment managers to institutional investors through private equity style funds of funds. Since inception, NewAlpha has entered into 15 strategic partnerships and invested a cumulative US$ 650 mn with early stage managers. NewAlpha has recently achieved the initial closing of its 4th vintage seeding vehicle with US$ 160 mn that will be deployed into emerging managers in 2011/2012.

Last November, NewAlpha received the Best Seeding Platform Award at the Hedge Fund Review 2010 European Funds of Hedge Funds Awards.

NewAlpha Asset Management is a subsidiary of OFI Asset Management, a leading asset manager that enjoys a solid reputation as a firm noticed for its creativity and its resolute focus on absolute performance. OFI AM has more than €49 billion under management. Corporate website: www.newalpha.net

- FG

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