Fund Hunts Credit Arbitrageurs, Considers Additional Strategy

KBC Alternative Investment Management, which has USD3.7 billion under management, is expanding its credit arbitrage operations in both London and New York.

  • 07 Mar 2004
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KBC Alternative Investment Management, which has USD3.7 billion under management, is expanding its credit arbitrage operations in both London and New York. Andy Preston, managing director in London, said the firm is looking to hire 10-15 staffers, including quants, financial engineers and credit derivatives traders. The move coincides with Preston is considering launching a long/short fund on single-name credit-default swaps, which would be partly statistically driven and may add some USD40 million to the group's capacity.

"We see enormous scope for expansion of strategies in credit arbitrage," said Preston. Approximately 60% of KBC AIM's business is based on credit arb strategies.

  • 07 Mar 2004

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4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

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1 Bank of America Merrill Lynch 10,650.87 23 11.13%
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4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

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3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%