Boutique fixed interest managers Kapstream Capital and Vianova Asset Management have added senior resources.
Kapstream has forged a strategic alliance with Kanangra Ratings Advisory Service, the new company of former Moody’s senior credit analyst, David Howell. Kapstream founder Kumar Palghat said Howell’s ratings experience would help it assess credit opportunities across all sectors and markets. The $350 million manager continues to search for a replacement for senior trader Steve Mackie, who left for Citi in April. Meanwhile Vianova Asset Management has expanded with the hire of Andrew McLachlan as credit strategist. McLachlan was previously senior credit analyst in Perennial Investment Partners’ fixed interest team, where he was responsible for creating and building in-house credit risk models and individual security analysis.
05/08/2008
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Alternatives
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.
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