Plutus Capital: flexibility helped to bounce back
After a rocky start in the CB arbitrage space, Plutus Capital switched to a value-driven approach to recover
Nabil Debs launched his own hedge fund with pretty much all the credentials an investor looks for. Having worked very successfully for a number of years as a lieutenant to Philippe Jabre at GLG, he was exactly the type of 'second generation' manager that hedge fund investors take seriously.
He also invested heavily to put in place a powerful and credible team - featuring Colum McCoole from Morgan Stanley, Kamal Fayad from Deutsche Bank and Jean-Pierre Comaty from Lehman Brothers - plus an experienced COO, Fiona Stewart, previously at Sofaer Capital.
However, Debs also launched his Plutus Capital fund initially with a fairly conventional convertible arbitrage strategy - just as the whole CB arb...