Argentem Creek Partners target fresh capital after leaving Black River AM
Employee-owned emerging markets credit business, Argentem Creek Partners, is aiming to raise fresh capital following its exit from Black River Asset Management.
The team, staffed by the entire former Black River emerging markets credit investment team, is led by chief executive, Daniel Chapman, president, Charles Friedberg and global head of business development, Angela Samfilippo, who believe the sectors has "abundant investment opportunities".
The firm, which officially left Black River on 30 December 2015, estimated the total current capacity of its emerging market distressed debt and special situations strategy to be about US$1 billion.
"Emerging markets corporate credit represents a large and inefficient asset class with fewer participants today than five or more years ago as banks have curtained their proprietary trading desk activities and, as a result, we have observed that market liquidity has diminished materially," Chapman said.
"The asset class has grown to US$1.6 trillion with a 20 per cent compound annual growth rate over the last decade across more than 30 countries with different laws, regulatory environments and disclosures.
"We believe that these factors, coupled with recent emerging market distress, have created abundant investment opportunities."
Recommended for you
Infrastructure assets are well-positioned to hedge against global uncertainty and can enhance the diversification of traditional portfolios with their evergreen characteristics, an investment chief believes.
Volatility in US markets means currency is becoming a critical decision factor in Australian investors’ ETF selection this year.
Clime Investment Management is overhauling the selection process for its APLs, with managing director Michael Baragwanath describing the threat of a product failure affecting clients as “pure nightmare fuel”.
Global X will expand its ETF range of exchange-traded funds next month with a low-cost Australian equity product as it chases ambitions of becoming a top issuer of ETFs in Australia.
