Case Study 7

Sun May 1, 2005


Picus Venator Fund


Picus Capital: trail blazing in leveraged finance

When Bill Healey and Bob Hartmann set up Picus Capital, they were venturing into unchartered territory in Europe. But assets have nearly doubled since launch

As the first European hedge fund dedicated to the fast-expanding leveraged finance space, the founders of Picus Capital were keen to get going as quickly as possible.

Despite the long and complementary experience of the firm's two partners - fund manager Bill Healey and investment banker/trader Bob Hartmann - in the credit markets, there was no relevant track record or past performance that could be applied.

So the decision was made to take a seeding deal, rather than spend months talking investors through a strategy with which most would have been unfamiliar, and to which many would have been unlikely to commit before a track record had been...

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