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Communiqués de presse 19.03.2019

A new credit long/short strategy on our alternative UCITS platform

A new credit long/short strategy on our alternative UCITS platform

Union Bancaire Privée, UBP SA (“UBP”) is launching a new credit long/short strategy on its alternative UCITS platform in partnership with New York-based alternative investment manager Global Credit Advisers, LLC (“GCA”).

The strategy is managed by Steven Hornstein’s (CIO and Co-Founder) GCA. Mr Hornstein is a highly experienced long/short fund manager focusing on corporate credit in the alternatives industry. He spent over 18 years primarily in corporate credit at Donaldson, Lufkin, and Jenrette Inc. (“DLJ”) and as a portfolio manager at two hedge funds before successfully launching GCA in 2008. The new UCITS strategy will employ an actively managed long/short corporate credit strategy mainly focusing on investment-grade, high-yield and distressed bonds. It will utilise a fundamental research process to capitalise on an information base built on decades of experience and a research team with an average of 20 years of experience in corporate credit.

Commenting on the launch, Nicolas Faller, Co-CEO Asset Management at UBP, said: “We are very happy to partner with Global Credit Advisers for this new alternative UCITS strategy. At this point in the cycle, we believe there are a lot of opportunities for a long/short strategy in credit. There are very few managers successfully trading this strategy, and Mr Hornstein and his team have proven to be amongst the best in the space given their success for more than 10 years.”

Steven Hornstein, Co-Founder & CIO at GCA, said:

“We are pleased to be partnering with UBP and their proven UCITS distribution platform. Having successfully managed our credit long/short strategy for more than 10 years, we are excited to extend the offering to the broader UCITS audience and contribute to the diverse product offering that UBP’s platform provides.”

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Hedge funds

UBP is one of the longest-standing investors in hedge funds and a leading European player in the sector.

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