Chenavari's Toro debt fund flies high in ABS


New to our tables this month is Toro Capital, a European asset-backed securities-focused strategy run by former senior Natixis ABS/CDO trader Benoit Pellegrini that is up by some 90% since its launch last June.

Toro Capital Partners was set up by ex-Bear Stearns and Natixis structured credit specialist Frederic Couderc under the umbrella of Chenavari - a London-based firm led by Loïc Fery, formerly head of global credit markets and CDOs at Calyon.

Couderc is the firm's CEO and also a managing director at Chenavari Credit Partners. Portfolio manager Pellegrini is supported on the Toro fund by Daniel Turner.

Toro was