NEW YORK (May 3, 2011) — Asset Management Finance LLC (“AMF”) announced today that it acquired a passive minority equity interest in Lucidus Capital Partners LLP (“Lucidus”), a fast growing long/short credit manager with offices in London and New York. Post AMF’s investment, Lucidus will continue to operate in the same manner as in the past with the same staff and investment approach. AMF has invested over $750 million to acquire interests in 21 investment managers that collectively manage over $80 billion of assets. The transaction is AMF’s second in Europe.
Lucidus is a leading asset manager of liquid credit strategies whose investment team has a twelve year investment history of delivering positive risk-adjusted returns. Lucidus’ products have been managed since 1999 by the current partners of Lucidus at predecessor firms prior to the founding of Lucidus by Darryl Green, co-CEO/co-CIO, and Geoffrey Sherry, co-CIO, in 2009. Lucidus now has $1.8 billion in notional assets under management with 38 professionals based in London and New York.
The investment by AMF, an affiliate of Credit Suisse Group AG (“Credit Suisse”), will help facilitate the continued institutionalization of the firm and assist in attracting and retaining key professionals. The active partners of Lucidus, including Darryl Green and Geoffrey Sherry, have made long-term commitments to the business and will retain majority ownership of the firm. All of the after-tax proceeds received by the active partners of Lucidus will be invested in Lucidus’ funds.
Bruce Kovner and Peter D’Angelo, who have been committed supporters of Lucidus since inception, will continue to hold their minority equity interest in Lucidus via Caxton Associates (“Caxton”).
