Launches & Closures People Moves

Lombard Odier's 1798 operation bags Cerberus duo for distressed


1798 Global Partners, the Geneva and New York-based multi-strategy hedge fund firm founded by former trader Aziz Nahas in partnership with Swiss private banking giant Lombard Odier, is lining up a dedicated European distressed debt fund, following the hire of two highly experienced professionals from Cerberus.

Jeff Lubin, the former managing partner of Cerberus European Capital Advisors, and ex-Cerberus colleague Elvis Pellumbi have been recruited to run the standalone new distressed strategy.

The new 1798 European Distressed Fund roll-out follows the launch late last year of a dedicated CB arbitrage fund called 1798 Convertible Opportunities, run by Martin Fisch