05 February 2018
Credere Capital, a London-based alternatives asset manager, has launched the Trium Credere Fund, managed by hedge fund specialist, Oliver Dobbs. The fund adopts a traditional arbitrage and relative value strategy, trading in hybrid securities and derivatives markets globally.
Since inception in September 2017, the Cayman Fund has posted strong performance with low volatility versus its peers.
The Fund has a global mandate investing in a wide range of asset classes. It seeks to identify mispricing around event-driven opportunities, such as new capital raises, regulatory changes, spinoffs, shareholder buy backs, security issuance, ratchets, restructuring and capital structure adjustments.
Dobbs applies a highly disciplined approach, utilising a combination of experience and insight to source and value technically demanding trades, while evaluating under and over-valued opportunities and avoiding crowded areas.
Oliver possesses a deep well of hedge fund experience and an exceptional track record. Between 2004 and 2014 he delivered an average 10.4 per cent annualised return with volatility of 5.9 per cent.
Before founding Credere Capital, Oliver worked for three top tier hedge funds, where he managed peak assets in excess of USD 2 billion. He was a portfolio manager at BlueCrest Capital, a portfolio manager and the CIO of portfolio managers at CQS and, prior to this, the CEO and CIO of Tribeca, the New York based hedge fund.
Throughout his multi-decade investment career, Oliver has generated meaningful returns by applying a defined, repeatable methodology to his strategy: simultaneously protecting downside risk and sourcing alpha via non-siloed, low volatility, and liquid, non-directional strategies.
Drawing from his experience of numerous of market cycles, Oliver believes the propitious timing of the launch has provided unique access for investors to a differentiated strategy:
“This strategy has heightened appeal for investors against a backdrop of increasing financial markets regulation. Banks, no longer able to take as much risk on their balance sheets, are willing to overpay for complex credit products in order to reduce their “risk-weighted assets”.
We are operating in an era of unprecedented structural change in the banking industry and as proprietary trading desks have wound down, it has led to sustainable, exploitable arbitrage opportunities.”
According to co-head of Trium Capital, Donald Pepper, the Fund presents a compelling, differentiated strategy providing access to an uncrowded segment of the market.
“This is a high-value proposition in an area of the market with low coverage,” he says. “Through this strategy, investors can access Oliver’s extensive experience, a universe of uncrowded trades and a strategy that is extremely difficult to replicate and inaccessible to big data and quant funds.
“Offering low correlation to the market, the Fund is also highly differentiated with similar classic arbitrage strategies now typically diversified into large multi-strategy funds.”
Trium Capital provides Credere Capital with a host of services, including, independent risk oversight, operations and compliance. Goldman Sachs acts as the Prime Broker, SS&C as administrator and Deloitte’s as auditor.
The launch of the Trium Credere Capital Fund was covered in the hedge fund press:
HFM Week (subscription required):
Past performance is not a reliable indicator for future returns