Cyril Armleder and Charles-Henri Lorthioir have clearly thought long and hard about the lessons of the market crisis in 2008 and how they should best respond.
Right to left: Cyril Armleder, Charles-Henri Lorthioir and Shahar Zer
The duo, who worked together at Goldman Sachs and then on the credit fund team at GLG, have now come back to the industry with a new fund of their own in partnership with former Lehman Brothers man Shahar Zer.
The new Northlight European Fundamental Credit Fund, launched at the beginning of December with initial assets of about $50 million, pioneers a number of innovative features that seek to better align the interests of the managers and investors.
Among other things, Northlight is pioneering a new trademarked 'three-way NAV' process. What it calls the 3WayNAV™ is operated in partnership...