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NewAlpha Pumps $50M Into New Credit Hedge Fund


Date: Tuesday, October 21, 2008
Author: FINalternatives

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NewAlpha, a French alternative investments incubation shop, has entered into its eleventh seeding agreement, a US$50 million investment in a portfolio managed by Concerto Asset Management.

Concerto, based in Charlotte, N.C., is a multi-strategy shop with a focus on the U.S. corporate credit asset class. The firm is headed by CEO and chief investment officer Julie Bouhuys, who most recently as head of fixed-income credit products at Wachovia Corp.

The firm will invest primarily in U.S. leveraged loans and distressed investments, but its investment scope may also incorporate other credit asset classes. Its investing style balances fundamental credit analysis, relative value analysis and active portfolio management.

NewAlpha was established in 2003 by the ADi group, an independent French alternative fund manager founded in 1998 by Erich Bonnet and Christophe Bourret. It has currently approximately US$400 million under advisory.