Anthony Clemente has started a new private investment firm, Canaras Capital Management. The former head of the bank loan and global collateralized debt obligation group at INVESCO Senior Secured Management has been operational with Canaras, an alternative asset manager focusing on the credit market, for a few weeks. Clemente declined comment.
The firm is expected to look at investing in loans, high-yield bonds, emerging market credits and potentially credit derivatives. It currently has a mandate, according to a market source. Clemente, ceo, and Alan Chao, portfolio manager, will manage the CDOs the firm will raise.
Chao is a former INVESCO colleague and joins six other INVESCO alums, including Clemente, at Canaras. These individuals include: Benjamin Steger, senior investment analyst, Maria Jones, chief operating officer, Ursula Corpancho, operations specialist, Raffi Jamgotchian, chief information officer, and Susan DeMonte, executive assistant. Two other employees include senior investment analysts Umberto Serrano, who joined from Standard & Poor's, and Andrew Heller who joined from Houlihan Lokey Howard & Zukin, according to that source.
