Liontrust Asset Management has agreed to sell its credit
business, including its long-established and highly-rated
credit team headed by Simon Thorp, to €6 billion
Dublin-based specialist credit manager Avoca Capital.
The deal will see Liontrust refocusing on its equity
business, while Avoca - which is principally a leveraged loans
and sub-investment grade credit specialist, founded in 2002 by
former senior executives in AIB's leveraged and acquisition
finance business - is making its first foray into long/short
credit strategies, having previously only run long-only
The Liontrust Credit Fund and the more recently launched
UCITS-compliant Liontrust Credit Absolute Return Fund - which
was launched last year - will...