Cairn taps into institutional demand as the opportunities come thick and fast in credit
Fri Nov 25, 2011
The opportunity set in European credit is growing fast as the continent’s debt crisis goes from bad to worse
The launch of a new fund targeting specific opportunities in
the stressed European credit markets is the latest step in the
development of Cairn Capital, the London-based specialist asset
manager that is one of Europe’s leading players in
the global credit markets.
The new Cairn Subordinated Financials Fund – which
has been seeded by two major pension fund investors, one based
in the UK and the other based in the US – began
trading in October and focuses on subordinated financial debt,
investing primarily in legacy instruments.
The fund launched with some €45 million in committed
seed capital from two pension funds that are already Cairn
clients: UK corporate scheme Stanhope Pension Trust, and US
public pension fund San Bernadino County
Employees’ Retirement Association.
Cairn believes the sovereign and regulatory stresses
impacting the European credit markets are providing an
opportunity to generate excellent risk-adjusted returns for
ISSN: 2151-1845 / CDC10004H
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