Bloomberg – Gennaro Pucci, formerly head of trading at credit manager Credaris, has started a $100 million hedge fund that will trade mostly European corporate debt, credit derivatives and asset-backed securities.
Christian Evans and Rachel Barnard, both formerly at UBS AG, will help manage the Matrix-PVE Global Credit Fund from London as a joint-venture with Matrix Group Ltd., Pucci said in a telephone interview. The fund will use Matrix infrastructure, operations, compliance and sales.
Rival hedge fund managers have also been raising capital to trade European debt on expectations the region’s recovery from its worst recession since World War II will create opportunities to make money. Pucci left Credaris, a London-based credit specialist asset management firm that manages more than $1 billion in credit and derivatives, in April.