Mergers & Acquisitions / Joint Ventures

Brummer moves into London with Observatory tie-up


Brummer & Partners, the long--established and well-performing Stockholm-based multi-strategy hedge fund group, is adding its first London-based manager to its growing portfolio through a partnership with credit markets specialist Observatory.

Patrik Brummer

Observatory, led by 20-year credit market veteran Shazad Ghaffar, was one of the earliest Europe-based -corporate credit-focused hedge funds back at the end of 2003 and has achieved very strong performance since inception.

Since July 2004 the Observatory Credit Markets Fund has generated an annualised return of 18% on a Sharpe ratio of nearly 2, and with very low correlation to corporate credit market indices.