NEW YORK & LONDON--(BUSINESS WIRE)--Advent Capital Management, LLC (“Advent”), an investment management firm with approximately $8.5 billion in assets under management, today announced it will launch a new UCITS regulated umbrella fund* domiciled in Ireland, which will include the Advent Global Absolute Return Strategy, during the second quarter of 2015. The UCITS fund marks the first alternatives product in Advent’s UCITS offerings and is an extension of Advent’s successful Global Opportunity Strategy. It will be co-managed by portfolio managers Odell Lambroza and Matthew Dundon.
Advent has built a seven-year track record in its global opportunities, relative value and event-driven focused hedge fund, positioning the Global Absolute Return Strategy to invest in similar opportunities across geographies, while complying with the UCITS IV framework. The strategy is flexible and opportunistic, spanning corporate capital structures and leverages the knowledge of Advent’s expert in-house investment research team. The new UCITS fund will be asset class agnostic and will be optimally positioned to implement Advent’s fundamental views under various market conditions.
“The expansion of our UCITS product offerings into alternatives reinforces Advent’s dedication to our European investors and reflects our proficiency in the alternatives space,” said Kris Haber, Chief Operating Officer at Advent Capital. “Given the number of opportunities that currently exist in fixed income, offering a credit UCIT strategy is a natural step for Advent and our clients,” said Robert Gourlay, Managing Director and Head of European Business Development. “The product is an excellent complement to our existing lineup and meets the significant credit demand we’ve had from our relationships in Europe.”
Odell Lambroza has 24 years of industry experience, the last 13 of which he’s spent at Advent managing the Global Opportunity Strategy and investing across the entire capital structure. Prior to Advent, he served as Managing Director of the Convertible Securities Department at SG Cowen and as Vice President of Structured Equity Derivative Products, Asset Swaps, and Convertible Trading at Merrill Lynch.
Matthew Dundon joined Advent from Pine River Capital where he co-led a team of analysts focused on North American high yield, distressed debt, reorganized equities and messanine investing. He was also involved in distressed and special opportunities in Asia, Europe and the Middle East. Prior to Pine River, he was head of research at GMP Securities and has also practiced leveraged finance and securities law.
About Advent Capital Management, LLC
Advent Capital Management,LLC,is a registered investment advisor founded in 1995. Advent manages approximately $8.5 billion in assets on behalf of corporations, public pension plans, foundations, endowments and high net worth individuals, globally, across a variety of alternative investment, traditional and closed-end fundstrategies.The firm’s proficiency in investing across the entire capital structure is driven by rigorous analysis and proprietary fundamental, credit and equity research. Investment professionals collaborate globally to deliver compelling absolute and risk-adjusted returns for its clients.
* As an Irish Undertakings for Collective Investments in Transferable Securities (UCITS) compliant fund, Advent UCITS Funds plc may, when officially approved by the Central Bank of Ireland, freely market and sell shares in the UCITS throughout the European Economic Area where the UCITS has complied with the notification and cross-border registration processes under the UCITS Directive or otherwise complies with applicable law.
Advent UCITS Funds plc is currently not a recognised scheme for purposes of the Financial Services and Markets Act 2000 and consequently its promotion either within or from the United Kingdom is restricted by law. This press release has therefore been prepared only for and is directed only at persons reasonably believed to be of a kind to whom an unauthorised person is permitted to communicate financial promotions pursuant to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “FPO”). Such persons include: (a) persons outside the United Kingdom, (b) persons having professional experience in matters relating to investments and (c) high net worth bodies corporate, partnerships, unincorporated associations, trusts, etc. falling within Article 49 of the FPO. The services and/or investments described herein are available only to such persons, and persons of any other description may not rely on the information in this press release. The UCITS will not be offered or sold within the United States and is not available to U.S. Persons.
These materials are for informational and discussion purposes only. This information should not be considered a solicitation or an offer to purchase shares of any Advent sponsored or advised product or a solicitation or an offer by Advent to provide any services in any jurisdiction. The views expressed herein represent the opinions of Advent and are not intended as a forecast or guarantee of future results for any product or service.