Key Takeaways
- • Sound Point Capital Management has hired a three-person investment team from South African manager Ninety One to build out a European asset-backed lending strategy.
- • Chris Rust and Lei Lei were appointed portfolio managers and co-heads of European secured lending, with more than two decades of experience in European opportunistic and distressed credit and M&A advisory; both previously worked at Oak Hill Advisors.
- • Lachlan Viney joins as director and senior analyst; all three are based in London and report to Russell Holliday, Ninety One's head of Europe.
- • The hires are tied to a partnership that aims to support completion of the Ninety One European Credit Opportunities Fund 1 and expand Sound Point's European private credit offering.
- • Sound Point manages over $44bn (£32.9bn) in assets under management across liquid and illiquid credit strategies.
Summary
Alternative credit manager Sound Point Capital Management has hired a three-person investment team from South African investment manager Ninety One, according to Alternative Credit Investor. The move is structured as part of a partnership between the two firms, which aims to support the completion of the Ninety One European Credit Opportunities Fund 1 and to expand Sound Point's European private credit offering.
Chris Rust and Lei Lei have been appointed portfolio managers and co-heads of European secured lending. Both have more than two decades of experience in European opportunistic and distressed credit and M&A advisory, and both previously worked at Oak Hill Advisors before joining Ninety One. Lachlan Viney has been appointed director and senior analyst. All three are based in London and will report to Russell Holliday, Ninety One's head of Europe.
Holliday said Rust and Lei "have spent their careers underwriting complex European credit through multiple cycles, and they bring a rare combination of deep origination relationships and structuring discipline." He described European asset-backed lending outside the sponsor channel as "one of the most attractive and difficult to access parts of the market today." Rust and Lei, in a joint statement, said they were "looking for a platform with meaningful scale in credit, genuine structuring capabilities, and the conviction to fully support a European asset-backed strategy."
The team will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel. The strategy builds on Sound Point's US capabilities across capital solutions, direct lending, and specialty finance, extending asset-backed lending into its European private credit offering. Sound Point's strategies span leveraged loans, special situations, distressed debt, structured credit, direct lending, and commercial real estate, across funds and managed accounts.
Chris Rust and Lei Lei have been appointed portfolio managers and co-heads of European secured lending. Both have more than two decades of experience in European opportunistic and distressed credit and M&A advisory, and both previously worked at Oak Hill Advisors before joining Ninety One. Lachlan Viney has been appointed director and senior analyst. All three are based in London and will report to Russell Holliday, Ninety One's head of Europe.
Holliday said Rust and Lei "have spent their careers underwriting complex European credit through multiple cycles, and they bring a rare combination of deep origination relationships and structuring discipline." He described European asset-backed lending outside the sponsor channel as "one of the most attractive and difficult to access parts of the market today." Rust and Lei, in a joint statement, said they were "looking for a platform with meaningful scale in credit, genuine structuring capabilities, and the conviction to fully support a European asset-backed strategy."
The team will focus on directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel. The strategy builds on Sound Point's US capabilities across capital solutions, direct lending, and specialty finance, extending asset-backed lending into its European private credit offering. Sound Point's strategies span leveraged loans, special situations, distressed debt, structured credit, direct lending, and commercial real estate, across funds and managed accounts.
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