London-based CPM Advisers, which has €930 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, and both will probably 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. The credit opportunities fund was launched last month with €20 million from HSH Nordbank and the firm hopes to receive a further €80 million from the bank within the next couple of months, said Zaman Khan, portfolio manager.
CPM is also currently 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 very early stages, Weiske said, adding that the lead time for a new product is usually about 12 months.
