Arini hit by losses on Aston Martin and Altice debt bets
London-based credit hedge fund Arini Capital Management has suffered a difficult year as concentrated positions in distressed European companies including Aston Martin and Altice International have weighed heavily on its flagship strategy, according to a report by then Financial Times.
Arini Capital Management, a London-based credit hedge fund founded in 2021 by former Credit Suisse high-yield trader Hamza Lemssouguer, has faced a challenging year due to concentrated positions in distressed European companies such as Aston Martin and Altice International, according to a report by the Financial Times. The $22bn manager's flagship strategy is down more than 8% since the start of the year, following losses of almost 8% in July and close to 1% in August.
This marks a sharp reversal for Arini, which was once one of Europe's fastest-growing credit hedge funds, boasting returns of 27% in 2023, 21% in 2024, and 10% last year. However, several of its recent positions have moved sharply against the fund, particularly Altice International, which was the largest single-name source of losses in July due to the transfer of valuable assets outside the reach of creditors.
Despite these setbacks, Arini has shown resilience in the past, recovering from significant drawdowns in the past, and its other strategies have also performed well this year, with the credit opportunities fund up about 12% year to date and the direct lending strategy returning approximately 7%.
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