The signing of a $75 million accelerator capital with highly-regarded Chicago-based fund of funds group Grosvenor marks a major step forward for Nightscape Capital – the London-based credit and capital structure firm led by ex-Sandelman and Citadel man Nick Stukas.
Since its inception in September 2010, the Nightscape Global Value Fund has delivered an excellent and very consistent performance through a rocky period in credit-related and other risk asset markets.
The fund is annualising at some 6.5% after its first 20 months of trading – on very low annualised volatility of just 3%, and with minimal (verging on negative) correlation to credit indices and other benchmarks. Since inception, the biggest down month is just 1.2% – in a period when credit markets, and many other credit hedge funds, have shown huge volatility.
Nightscape Global Value was nominated for a EuroHedge new fund of the year award last year on the...