Cheyne Capital Management
Cheyne Capital | Hedge Fund Notes
The following piece on Cheyne Capital is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.Resource #1: (4.15.09) Hedge fund firm Cheyne Capital Management is to buy fund of hedge funds manager Altedge Capital, the firms said on Tuesday, as the once-booming industry consolidates in the face of client outflows. Under the deal, Altedge Chief Executive and Chief Investment Officer Chris Goekjian will become partner and chief investment officer at Cheyne, which manages more than $6 billion in assets, and will report to Chief Executive Jonathan Lourie.
Altedge, whose business will be integrated into Cheyne's over the next six months, hopes to benefit from Cheyne's distribution.
"From Altedge's point of view it's an alliance with a larger platform," Altedge fund manager and co-founder Cem Habib told Reuters. source
Resource #2: Cheyne Capital was founded in 1999 by Jonathan Lourie and Stuart Fiertz representing a natural evolution for a team that developed a focused convertible bond management practice within Morgan Stanley over the prior ten years.
Today, Cheyne Capital is one of Europe’s largest hedge fund management groups. The firm’s main areas of expertise include corporate credit, event-driven, equity and equity-linked investing.
Cheyne Capital seeks to generate above-average, risk-adjusted absolute rates of return for clients. Central to Cheyne's investment methodology is the combination of fundamental analysis with a pro-active approach to trading. The flow of timely and actionable information is enhanced by the close integration of portfolio managers, research analysts and in-house risk management technology. The Cheyne Capital group comprises, inter alia, Cheyne Capital International Limited, a Bermuda-incorporated investment advisory firm, and Cheyne Capital Management (UK) LLP, a London-based independent fund manager, which is authorised and regulated by the FSA and, along with other entities in the Cheyne Capital group, is a registered investment adviser with the SEC. Cheyne's principal office is located on Green Park at Stornoway House, 13 Cleveland Row, St James's, London. source
Resource #3: Jonathan H. Lourie is the founder, Chief Executive Officer and Chief Investment Officer of Cheyne Capital Management (UK) LLP. Under his leadership, Cheyne Capital has grown to become one of the largest hedge funds in Europe. The firm's main areas of expertise include corporate credit, event-driven, equity and equity-linked investing. Prior to the inception of Cheyne Capital in June 2000, Mr. Lourie worked from 1985 at Morgan Stanley where he was responsible for the creation and development of the convertible bond management practice. Mr. Lourie was educated from 1967 to 1979 at the International School of Geneva and from 1979 to 1983 at Dartmouth College in Hanover, New Hampshire, from which he graduated Phi Beta Kappa and Summa Cum Laude in 1983. source
Resource #4: (9.11.08) Cheyne Capital, a leading alternative asset manager, won 3 major awards for its credit fund business at the Creditflux industry awards in London last night. Cheyne won the prestigious Manager of the Year award, as well as the awards for the
Best Long/Short Credit Hedge Fund and Best Synthetic Equity CDO. These awards, together with a further 5 nominations, demonstrate Cheyne’s wide-ranging expertise and continued leadership across the Credit space.
The Creditflux winners are selected based on clear quantitative criteria, and nominees include the leading credit managers world-wide. The Manager of the Year award specifically recognises Cheyne’s consistent performance across different credit products. source
Resource #5 (7.23.08): Cheyne Capital, the leading alternative asset management company, today announces the appointment of Ravi Stickney as Portfolio Manager for the Cheyne Asset-Backed Fund and the Cheyne Structured Solutions Fund.
Prior to joining Cheyne, Ravi worked for ING Bank's proprietary investments desk and was solely responsible for managing a € 400 million long / short portfolio of predominantly subordinate interests in European asset backed securities. Prior to that, Ravi worked at Lehman Brothers London on the structuring and execution of European commercial and residential mortgage backed securities and non performing loans. He also worked on the commercial real estate and securitisation teams at KPMG and Ernst & Young in London. Ravi is a qualified chartered accountant and holds a Masters in Engineering from Cambridge University. source
Resource #6 (7.4.08): Cheyne Capital, the leading alternative asset management company, today announced that Mark Harrison has been appointed as Chief Operating Officer in a newly created role, based in Cheyne’s London offices.
Harrison joins from Carlyle Blue Wave where he was the Chief Operating Officer. He also worked for Morgan Stanley and Deutsche Bank, where he was Executive Director and Managing Director respectively.
Jonathan Lourie, Founder and CEO of Cheyne Capital commented, “Mark’s hire further reinforces the maturity of our business and allows us to bring together the coordination of all the different product areas under one administration umbrella and ensures that our clients benefit from streamlined and efficient internal processes.” source
Resource #7 (12.30.07): Cheyne Capital, the diversified asset management company, today announces the first closing of a new Saudi-Spanish Infrastructure Fund with commitments of $680 million. The fund will be managed together with infrastructure specialist
Arox Infrastructure.
The aim of the initiative is to promote infrastructure projects in Saudi Arabia, particularly in the six new Economic Cities, which require $100 billion of investments in transportation assets and $300 billion in energy assets by 2020. Electricity group Iberdrola, construction group Dragados, IT group Indra and engineering group Tecnicas Reunidas are among the Spanish groups taking part in the project.
Stuart Fiertz, co-founder of Cheyne Capital commented, “There are enormous opportunities for both investors and contractors. The fund will enhance bilateral co-operation, give companies in each country access to the market of the other, increase the collaboration between the private sectors, allow the two countries to capitalise on the competitive advantage of each other, and facilitate transfer of knowledge.” source
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