Key Takeaways
- • Sound Point Capital Management, LP, which manages over $45 billion in assets under management as of 6/30/2026, announced a partnership with Ninety One to complete the Ninety One European Credit Opportunities Fund 1 and expand its European private credit offering.
- • Three-person team from Ninety One, led by Chris Rust and Lei Lei as Co-Heads of European Secured Lending with Lachlan Viney as Director and Senior Analyst, is joining Sound Point, all based in London.
- • The team will pursue directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel, a segment the firm describes as substantially underserved amid continued bank retrenchment.
- • During the transition, Sound Point will act as sub-adviser to the European Credit Opportunities Fund 1, working with Ninety One to bring the fund's investments through to completion.
- • The team will report to Russell Holliday, Head of Europe, and Magellan Advisory Partners advised the team on the move.
Summary
Sound Point Capital Management, LP ("Sound Point"), a global alternative credit manager with over $45 billion in assets under management, announced a partnership with Ninety One to support the completion of the Ninety One European Credit Opportunities Fund 1 and expand its European private credit offering, according to a Business Wire press release dated October 22, 2026. As part of the arrangement, the three-person investment team responsible for the strategy will join Sound Point.
Chris Rust and Lei Lei join Sound Point as Portfolio Managers and Co-Heads of European Secured Lending, alongside Lachlan Viney, Director and Senior Analyst. All three are based in London and previously worked at Ninety One, where Rust and Lei co-led the firm's European Secured Lending strategy. They will report to Russell Holliday, Head of Europe. The team will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel, where bank retrenchment continues to drive demand for flexible, structured capital. The strategy extends Sound Point's U.S. capabilities across Capital Solutions, Direct Lending, and Specialty Finance by adding asset-backed lending to its European private credit offering. During the transition, Sound Point will serve as sub-adviser to the European Credit Opportunities Fund 1.
The expansion is also supported by the recent appointment of Victoria Davies as Managing Director and Head of Europe for Global Client Solutions, which the firm says strengthens its institutional relationships and client coverage in the region. Stephen Ketchum, Founder and Managing Partner, said Rust and Lei bring "exactly the disciplined, downside-focused underwriting we look for," describing the segment as "substantially underserved."
Rust has 26 years of experience in European and U.S. opportunistic and distressed credit, private equity, and M&A advisory, including prior roles founding Sterndale Capital Partners, serving as a Managing Director at Oak Hill Advisors, and working as a senior investment analyst at Värde Partners. Lei has 23 years of experience in European performing, opportunistic, and distressed credit and M&A advisory, including a Portfolio Manager and Managing Director role at Oak Hill Advisors. In a joint statement, the two said Sound Point offered "meaningful scale in credit, genuine structuring capabilities" and a partnership culture. Magellan Advisory Partners served as advisor to the team.
Chris Rust and Lei Lei join Sound Point as Portfolio Managers and Co-Heads of European Secured Lending, alongside Lachlan Viney, Director and Senior Analyst. All three are based in London and previously worked at Ninety One, where Rust and Lei co-led the firm's European Secured Lending strategy. They will report to Russell Holliday, Head of Europe. The team will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel, where bank retrenchment continues to drive demand for flexible, structured capital. The strategy extends Sound Point's U.S. capabilities across Capital Solutions, Direct Lending, and Specialty Finance by adding asset-backed lending to its European private credit offering. During the transition, Sound Point will serve as sub-adviser to the European Credit Opportunities Fund 1.
The expansion is also supported by the recent appointment of Victoria Davies as Managing Director and Head of Europe for Global Client Solutions, which the firm says strengthens its institutional relationships and client coverage in the region. Stephen Ketchum, Founder and Managing Partner, said Rust and Lei bring "exactly the disciplined, downside-focused underwriting we look for," describing the segment as "substantially underserved."
Rust has 26 years of experience in European and U.S. opportunistic and distressed credit, private equity, and M&A advisory, including prior roles founding Sterndale Capital Partners, serving as a Managing Director at Oak Hill Advisors, and working as a senior investment analyst at Värde Partners. Lei has 23 years of experience in European performing, opportunistic, and distressed credit and M&A advisory, including a Portfolio Manager and Managing Director role at Oak Hill Advisors. In a joint statement, the two said Sound Point offered "meaningful scale in credit, genuine structuring capabilities" and a partnership culture. Magellan Advisory Partners served as advisor to the team.
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