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Arbitrium Capital adds two veteran fund and debt experts

Monday, December 14, 2020
Opalesque Industry Update, for New Managers - Distressed debt and special situations specialists Arbitrium Capital Partners has hired Blake Ammit as Managing Director and Ian Lundy as an independent member of the Investment Committee.

Launched in November, Arbitrium Capital is raising commitments its first $300M fund, which will invest in companies with pre-COVID revenues of $50-750M. This segment of the market has over $100 billion in aggregate corporate debt. Co-founders Mukhtader Mohammed and Daniel Liptak said they were delighted with the expansion to their team.

"Blake and Ian represent some of the best minds in our space in Australia," Mohammed said. "It's such a great testament to what we're doing that they want to join us."

Ian Lundy has more than 20 years' experience across the investment industry, most recently as Chief Investment Officer of industry fund Tasplan. Prior roles include Director of Hobart Airport, and Trustee Director of Utilities Trust of Australia, a $6 billion infrastructure fund. Lundy said the opportunity to work on complex unlisted deals in a new fund was key to him taking on the role.

"With interest rates so low and valuations stretched, many super funds are struggling to find investments that meet their target returns. This type of investment can help to fill that gap," he said. "I also very much enjoy working with start-ups - it's the most interesting time to be involved with a company, helping set the direction and make it a success."

Blake Ammit has specialised in funds management, equity and debt structuring, investment banking, M&A and turnaround management for over 25 years. He has experience across a diverse range of industries including agriculture, energy, utilities, infrastructure, property development, and waste management. Most recently he was shareholder and Head of Asset Management at FC Capital Holdings, one of Australia's largest alternative asset managers. Prior to this he was CEO of Handbury Asset Management. Ammit said he was keen to join Arbitrium Capital because of the calibre of the team as well as prevailing market conditions.

"Clearly the time is right in the cycle for a fund like Arbitrium, but more than that here's a massive need for special situations expertise in Australia right now, as the major banks are retreating from that area," he said. "I know a lot of investors will be looking for the type of risk profile we will be offering, and finally I couldn't pass up the chance to join my fellow industry experts - it's a fantastic team and I'm very excited to be part of it."

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