Key Takeaways
- • Sound Point Capital Management, a global alternative credit manager with over $45 billion in assets under management, is expanding its European private credit platform by hiring a three-person secured lending team from Ninety One.
- • Chris Rust and Lei Lei join Sound Point as portfolio managers and co-heads of European secured lending, alongside senior analyst Lachlan Viney; all three are based in London and report to Russell Holliday, head of Europe.
- • The team will pursue directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel, where bank retrenchment continues to drive demand for structured capital.
- • Sound Point will act as sub-adviser to the Ninety One European Credit Opportunities Fund 1 during the transition, partnering with Ninety One to deliver the fund's investments through completion.
- • The expansion follows the recent appointment of Victoria Davies as managing director and head of Europe for global client solutions.
Summary
Sound Point Capital Management, a global alternative credit manager with more than $45 billion in assets under management, has expanded its European private credit offering by bringing in a three-person investment team from Ninety One. The team will join Sound Point as part of a partnership with Ninety One that supports the completion of the Ninety One European Credit Opportunities Fund 1, while Sound Point builds out its European business.
Chris Rust and Lei Lei will serve as portfolio managers and co-heads of European secured lending, joined by 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, Sound Point's head of Europe.
The strategy will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel. The article attributes the opportunity to continued bank retrenchment, which is driving demand for flexible, structured capital. The initiative builds on Sound Point's U.S. capabilities across capital solutions, direct lending and specialty finance, adding asset-backed lending to its European private credit franchise. During the transition, Sound Point will serve as sub-adviser to the European Credit Opportunities Fund 1, working with Ninety One to deliver the fund and its investments through to completion.
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 will strengthen its institutional relationships and client coverage in the region.
Stephen Ketchum, founder and managing partner of Sound Point, said the new team brings "disciplined, downside-focused underwriting" and described the segment as "substantially underserved." Holliday said European asset-backed lending outside the sponsor channel is "one of the most attractive and difficult to access parts of the market today." In a joint statement, Rust and Lei cited the platform's scale, structuring capabilities and investor-focused culture.
Rust has 26 years of experience in European and U.S. opportunistic and distressed credit, private equity and M&A advisory. He previously founded Sterndale Capital Partners and was a managing director at Oak Hill Advisors, where he sat on the investment committee of the firm's strategic credit fund. Lei has 23 years of experience in European performing, opportunistic and distressed credit and M&A advisory, and was previously a portfolio manager and managing director at Oak Hill Advisors. Magellan Advisory Partners served as advisor to the team.
Chris Rust and Lei Lei will serve as portfolio managers and co-heads of European secured lending, joined by 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, Sound Point's head of Europe.
The strategy will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel. The article attributes the opportunity to continued bank retrenchment, which is driving demand for flexible, structured capital. The initiative builds on Sound Point's U.S. capabilities across capital solutions, direct lending and specialty finance, adding asset-backed lending to its European private credit franchise. During the transition, Sound Point will serve as sub-adviser to the European Credit Opportunities Fund 1, working with Ninety One to deliver the fund and its investments through to completion.
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 will strengthen its institutional relationships and client coverage in the region.
Stephen Ketchum, founder and managing partner of Sound Point, said the new team brings "disciplined, downside-focused underwriting" and described the segment as "substantially underserved." Holliday said European asset-backed lending outside the sponsor channel is "one of the most attractive and difficult to access parts of the market today." In a joint statement, Rust and Lei cited the platform's scale, structuring capabilities and investor-focused culture.
Rust has 26 years of experience in European and U.S. opportunistic and distressed credit, private equity and M&A advisory. He previously founded Sterndale Capital Partners and was a managing director at Oak Hill Advisors, where he sat on the investment committee of the firm's strategic credit fund. Lei has 23 years of experience in European performing, opportunistic and distressed credit and M&A advisory, and was previously a portfolio manager and managing director at Oak Hill Advisors. Magellan Advisory Partners served as advisor to the team.
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