Fixed interest boutique Kapstream Capital has added a credit analyst, off the back of recent mandate wins, including some ‘work out’ situations, which have taken it through $600 million under management.

Raymond Lee will join the Challenger-backed firm as a credit analyst effective August 3. Kapstream’s head of business development, Nick Maroutsos, said the firm had been busy taking on portfolios of distressed credit, sometimes from redeemed securities lending collateral pools, where the client either wanted the portfolio ‘worked out’ into better quality paper, or wanted to transition out of credit altogether and into sovereign debt.

Prior to joining Kapstream, Lee served as a credit associate for D.B. Zwirn, a hedge fund focusing on credit and distressed debt. Based in Hong Kong, Lee formulated recommendations and conducted credit analysis on debt and distressed investment opportunities throughout Asia ex-Japan covering listed debt, corporate distressed debt and hybrid instruments.

Prior to D.B. Zwirn,  Lee spent three years as a credit analyst at Goldman Sachs, focusing on acquisitions, high yield debt-issuances, corporate restructurings, bridge financings and leveraged buy-outs.

Lee recently returned to Australia and completed a Bachelor of Commerce in Finance and a Bachelor of Laws from the

University of
New South Wales.