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Alternative Market Briefing

Former RBS manager launches euro high yield bond hedge fund

Monday, September 06, 2021

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Steven Behr
B. G., Opalesque Geneva:

Steven Behr, the former head of RBS's principal strategies team, has come out of an eight-year retirement during which he managed his own family office to launch a European high yield (HY) credit fund, a spokesperson told Opalesque. This is partly due to consistently outperforming the benchmark with average returns of about 12% p.a., before selling at the top of the market before the pandemic and returning 20% from May 2020 to year-end.

Behr has more than 25 years of experience working in the finance industry. He worked at RBS (Royal Bank of Scotland) from 2001 to 2008, initially on the structuring side, then moving to credit research achieving a number One European ranking. He was then asked to set up the bank's proprietary long/short credit trading business, which he ran with a gross AuM of $10bn. He also set up an ABS trading business at Tradition and ran the ABS trading business at Christopher Street Capital until 2012.

In March 2013, he launched Geneva Capital Partners LLP (GCP), an FCA-regulated asset manager specialising in managing bond portfolios based in London. His GCP Fixed Income Master Fund, a portfolio of European HY bonds, averaged over 1.1% gross returns per month from 2016 to 2020.

He then launched the European High Yield Investment Fund, a long/short portfolio of European high yield corporate bonds, for outside investors in April 2021. The fund has......................

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