London-based CPM Advisers, with EUR930 million under management, has launched a credit opportunities fund and is planning two more funds for next year. These will be a total return structured credit fund and a global credit markets fund. Both will likely launch in the second quarter, said Dirk Weiske, ceo. The firm is predominantly focused on credit, so it makes sense to offer a range of vehicles that will appeal to a variety of investors, he explained. It launched the credit opportunities fund last month with EUR20 million from HSH Nordbank and the fund manager hopes to receive a further EUR80 million from the bank within the next couple of months, said Zaman Khan, portfolio manager.
CPM is seeking an additional portfolio manager and a senior analyst to work on these funds. The firm will likely launch more funds, but discussions are in the early stages, Weiske said, adding the lead time for a new product is usually about 12 months.
