Aladdin Capital Holdings has strengthened its credit hedge fund offering by acquiring Solent Capital Partners’ synthetic collateralised debt obligation business. 

Neal Neilinger (pictured), chief investment officer at Aladdin Capital, says: “There is an incredible momentum within the firm not only in the growth of our investment banking business but also of our asset management platform. This year has seen us build out significant hedge funds in both DIP and TALF.”
 
Jonathan Laredo of Solent Capital says: “We are convinced that the strength and depth of the existing Aladdin Credit team will add significant value to the investors in the CSO platform built by Solent. In addition I believe that Aladdin’s proven ability to raise hedge fund capital when allied with the credit trading expertise Solent Capital has demonstrated, will help to build a significant European asset management business.”
 
Aladdin currently manages USD10.5bn within its CDO/CLO business. The Aladdin credit team, which is 23 strong, has an average of 13 years’ experience across synthetics, structured credit, IG, HY and leveraged loans across Europe and the Americas.
 
Following the acquisition of Solent Capital’s CSOs, Aladdin will manage nine additional CSO vehicles, bringing the total to 12 CSOs under management.