Fund launches & closures

Financials specialist Tenax launches €250m credit vehicle run by former BofA man Guy

by

Nick Watkins and Massimo Figna
Tenax Capital, the London boutique known for its long-running financial sector long/short equity strategy, has rolled out a sizeable second fund that is focused on credit investing.

The Tenax Credit Opportunities Fund launched on 1 May and is managed by Michael Guy, a highly experienced credit investor who was most recently co-head of European distressed sales and trading at Bank of America, and who has also held senior roles within the credit businesses of Credit Suisse and Merrill Lynch.

The fund has hit the ground running with €200 million in