Case Study 3

Sun May 1, 2005

Plutus Valorem Fund

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...

ISSN: 2151-1845 / CDC10004H

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