Arini Capital Management’s under-pressure hedge fund has shed another 7 per cent this month, deepening losses at the London credit specialist. The roughly $7bn master fund is now down more than 21 per cent for the year, after an estimated 6.91 per cent decline between the start of October and end of last week. The firm previously reported a 15.7 per cent loss through September. The losses mark a reversal for a firm that rapidly drew money from sovereign wealth funds and large endowments.
Founded by former Credit Suisse trader Hamza Lemssouguer in 2021, Arini has grown to a $22bn-in-assets firm in just five years. It has built large positions in troubled companies including Altice International, Brightspeed, Aston Martin and German property group Adler, whose bonds have fallen below 60 cents on the euro. Arini’s master fund accounts for about $7bn of its assets, with other funds in asset-backed lending and private credit faring better.
Arini said it closed its inaugural direct lending fund with Lazard targeting over $4bn in deployment, and raised $1.5bn for its flagship fund. The firm told investors its contrarian approach is part of the process and not an indicator of soured investments.
Source: Financial Times Companies · Summarized by HeadlinesBriefing