Performance

Alta reaches a new high as CB arb players thrive

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One of the most successful players in the convertible arbitrage field has been the $720 million Alta Partners fund, flagship vehicle of Creedon Keller Partners managed by Scott Creedon.

The fund is already up a tremendous 9.21% so far in 2003, having clocked up a very impressive 29.81% in 2002, and an average annual return since inception of 23.02%. It has a volatility arbitrage focus, and invests right across the premium-grade and credit spectrum.

Other convertible bond houses have also done well with Lydian now up 7.88% for the year, Alexandra Global up 6% and Canyon up 5.3%.

The fund's macro