Hedge Fund News From HedgeCo.Net

Update: London Broker Dealer Trades $2.75 Billion In First Year

New York (HedgeCo.net) – London based distressed debt firm, Yorvik Partners LLP., has completed its first 12 months of operations having successfully traded $2.75 billion of distressed and esoteric credit products since its inception.

“Whilst we thought there was a real demand in the distressed credit space for an independent research focused intermediary – we have been overwhelmed by the strong reception we received from customers.” Founding partner Simon Mullaly said, “It has been a very rewarding start to a new business and we are indebted to everyone who has helped us get this far.”

Yorvik was founded by industry veterans Simon Mullaly and Lars Lemonius who both left bulge bracket investment banks prior to the downturn in 2008. Yorvik was established in September of 2009. Credits traded by Yorvik include many of the bankrupt Icelandic financials as well as various Lehman entities including European and Asian subsidiaries.

In addition Yorvik has established an emerging market presence in Eastern Europe and the Middle East, being active in BTA, Rusal, AWAL & Dubai entities amongst others.

Editing by Alex Akesson
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