Chenavari Expands Direct Lending Unit


Chenavari Investment Managers, a hedge fund that produced fantastic returns in 2012 and earned the the Eurohedge Specialist Fixed Income & Credit Award of 2012, has added new members, Mike Henebery, Jerry Wilson and Darren Gibson to its investment team.

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The firm has added to its ranks in an attempt to expand its standing in U.K. Mid-Market Direct Lending. All three money managers worked together at Palio Capital LLP for several years and have extensive experience in the sector..

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Jerry Wilson previously worked at Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS). Regarding their team’s new roles at Chenavari, Wilson said that they will offer small and medium businesses highly flexible loans in terms of cash flows.

The firm will work in collaboration with private equity investors and will attempt to provide the entire financing with funding from a single source. He said that, “The UK economy benefits from many strong SME businesses run by talented management teams – as an integral part of the wider Chenavari organisation we look forward to supporting these businesses to help make a difference to their future growth, jobs and the wider UK economy”.

Valuewalk recently conducted a detailed interview with Loic Fery, CEO of Chenavari Investment Managers. In his interview, Loic Fery said that the private lending side was actively involved in the European leveraged loans and Direct Lending sector where it financed loans to both corporate and real estate borrowers as well as bilateral transactions with banks.

Chenavari manages more than $3.5 billion in firm-wide assets, the flagship Chenavari Toro Capital I fund returned 32.4 percent in 2012 and 56 percent annually from 2009 to 2012.

H/T FINalternatives