Chenavari is one of the most astute and eclectic credit managers in Europe. It manages a seasoned multi-strategy credit hedge fund that has a proven ability to navigate the ups and downs of the market. It also manages one of the top performing liquid alternative credit UCITS strategies in 2017, on the Lyxor platform; two London Stock Exchange-listed vehicles with strong performance and yields; and a growing spectrum of illiquid credit strategies encompassing a wide range of European private credit investments (consumer finance, specialty finance, trade finance, and direct lending) as well as structured credit, distressed (Chenavari has been quietly acquiring ships at the bottom of the cycle), risk retention and risk transfer transactions.
As a young banker at Société Générale in Hong Kong in the 1990s, Chenavari founder, Loïc Fery, was thrown in at the deep end, dealing with pivotal and existential issues at Asian banks. In May 1998, while working on the balance sheet restructuring of one of the leading banks of the country, he spent a week confined to a hotel room in Jakarta, when the city was over-run with tanks. The fall of President Suharto soon ensued. Indonesia, Thailand and Malaysia in the late 1990s had turbulent politics and their banking systems were undergoing radical transformation: addressing bad debts and solvency issues, restructuring and raising capital.