Chenavari Investment Managers

ALTERNATIVE FIXED INCOME SPECIALISTS IN EUROPEAN CREDIT

Chenavari Investment Managers

ALTERNATIVE FIXED INCOME SPECIALISTS IN EUROPEAN CREDIT
About Us

Chenavari At a
Glance

Founded in 2008, Chenavari Investment Managers is an employee-owned asset management firm specialising in European credit across segments such as corporate and financial bonds, asset-backed securities, and private debt origination. Our independent, entrepreneurial team utilises a fundamental, value-based approach to identify investments within our areas of expertise.

Chenavari was
founded
European Credit Markets
Credit-focused
Assets Under Management
c.$ 0 bn
25 years credit markets experience on average
79 Professionals
Performance Awards won since inception

About Us

Founded in 2008, Chenavari Investment Managers is an independent alternative fixed income specialist in European credit markets.  Our expertise spans across the liquidity spectrum from corporate and financial bonds, asset-backed securities to leveraged finance, private credit and specialty finance loan origination. Our diverse and entrepreneurial team utilises a fundamental, value-based approach to identify investments within our areas of expertise. In the past 15 years, we have become the trusted experts in European Credit navigating the market’s complexities on behalf of our clients.

Chenavari At A Glance

Founded in 2008, Chenavari Investment Managers is an independent alternative fixed income specialist in European credit markets, with expertise across the liquidity spectrum, from corporate and financial bonds, asset-backed securities to leveraged finance, private credit and specialty finance loan origination. The Firm's diverse and entrepreneurial team utilises a fundamental, value-based approach to identify investments within its areas of expertise. Over 15 years, Chenavari has become one of the leading investment managers in European Credit navigating the market’s complexities on behalf of its clients.

1990
Founded
$ 0 bn
Assets Under Management
0
Years Experience in the industry ON AVERAGE
0
Professionals Focussed on European Credit
0
Performance Awards won since inception
CORPORATE VIDEO

Discover Chenavari in
Video

Latest News

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chenavari co-invest

May 2024 – Introduction to the Chenavari Co-Invest Platform

 

 

 

PRESS INTERVIEW

4 April 2024 – Risk Transfer and the shift from camaraderie to competition – Risk.net

 

 

 

Play Video
STRATEGY TALK

March 2024 – Alastair Pickett and Ed Smalley discuss key elements of credit risk sharing.

 

 

 

Play Video
VIDEO INTERVIEW

February 2024 – Loïc Féry reflects on some key macro events in 2023 and his credit outlook for 2024.

 

 

 

Approach

Chenavari's success relies on the quality of its investment decisions. The Firm has established a rigorous investment methodology to enhance the quality of those decisions, remove biases, and embrace a culture of constant improvement.

What we do

Chenavari's investment teams invest across the liquidity spectrum from corporate and financial bonds, asset-backed securities to leveraged finance, private credit and specialty finance loan origination through commingled funds, listed vehicles, CLOs and bespoke managed accounts. 

Sustainability

Chenavari believes that Environmental, Social and Governance (‘ESG’) considerations will increasingly drive economies and markets and that global issues and cross-cutting societal concerns such as climate change have ushered in a new era for responsible investment and corporate social responsibility.

As a signatory to the United Nations Principles for Responsible Investment (UNPRI) and a member of European Leveraged Finance Association, the Firm is committed to integrating sustainability factors into the investment decision-making process and continue to fine-tune a bespoke integration approach mirroring the specificities of each investment portfolio.

Team

With 15 nationalities across the firm and more than 25 years of industry experience across the portfolio managers, we have built a highly diverse and experienced investment and infrastructure team.

“Chenavari is a really collaborative place to work, with a warm, friendly and welcoming atmosphere”

Sandrine Streeter
HR Manager 

“At Chenavari, I get to maximise my entrepreneurial drive and to explore new business initiatives.”

Vlad Mitroi
Head of ESG

Chenavari is an entrepreneurial and dynamic workplace. Chenavari offers its employees the potential to broaden their exposure to a wide range of career opportunities within the firm.”

Kirstie Sumarno
Head of Investor Relations

" At Chenavari we achieve more together. It's a great atmosphere to search for excellence and performance!"

Stephane Parlebas
Partner, Senior Portfolio Manager

“Working at Chenavari is a very enriching experience; Interaction with peers creates opportunities for everyone to develop knowledge and grow both professionally and personally. This constant learning spirit encourages individuals to share opinions, ultimately keeping company agile & flexible.”

Emmanuel Tarillon
Risk Conducting Officer
AWARD WINNING
“We’d like to say thank you to all our clients, Alt Credit for their recognition & continued support, as well as to all our colleagues for their incredible work in a challenging market environment.''

Alt Credit European Performance Awards 2020

AWARD WINNING

“We’d like to say thank you to all our clients, Alt Credit for their recognition & continued support, as well as to all our colleagues for their incredible work in a challenging market environment.''

Alt Credit European Performance Awards 2020

It all begins here

Alternative Fixed Income
Specialists in European Credit

News & Insights

Creditflux
Credit investors find bright spots in gloomy outlook: Credit Rendezvous Q4 2022

Clouds are looming over financial markets as the fourth quarter begins — so investors are moving away from diversified approaches in favour of tailored investments and relative value plays.

Russia has annexed parts of Ukraine and stepped-up its aggression, the US has reopened a trade war with China over microchips, the UK is routing asset managers with a self-induced gilt crisis, and Europe is readying for a winter of intense energy costs…

altfi
German originator and Chenavari complete largest fintech securitisation of the year

European consumer lender Auxmoney has successfully placed its second asset-backed bond in the capital markets, following its first €250m placing last September.

For this latest placing, Auxmoney issued the bond jointly with asset manager Chenavari Investment Managers….

 

Structured Credit Investor
Portfolio Optimisation and ABS

Across Europe, banks are rationalising their businesses and refocusing on core competencies, which provides us with opportunities to acquire unloved portfolios,” confirms Hubert Tissier de Mallerais, partner and senior portfolio manager at Chenavari Investment Managers….

About Us

Our Approach

At the heart of our investment strategy lies a deep fundamental understanding of the European Credit markets.

Credit investment at Chenavari goes beyond identifying value solely based on fundamentals. Timing, execution and tail risk management play an equal part on our decisions to invest. We endeavour to generate long-term value for our clients by focusing on the upside potential as much as the downside risk.  

Our strategies span the full spectrum of credit investments from the most liquid tradable corporate security, to leveraged finance transactions, and a wide range of private debt origination.

Seeking value across European credit markets is our obsession.

Value Driven

Fundamental research underpins all of our investments. We focus on strategies that offer attractive risk-adjusted investment return. This implies sorting opportunities with a relative value filter, and considering their positioning within the portfolio.

Risk management is integral to our investment activities pre and post investment decisions.

Risk Minded

Our robust risk framework is supported by CLARK proprietary technology, enabling Chenavari to run real-time portfolios’ assessment and stress scenarios. Regular forums such as investment committees and portfolio reviews allow constructive debates between investment professionals and risk team, mitigating downside for our portfolios.

“Decision makers will make better choices when they expect their decision to be judged by how it was made, not only by how it turned out. “ Daniel Kahneman

Self Critical

We believe in an iterative process involving the courage and resilience to constantly review our investment thesis on the back of incremental news, again, again, and again. It requires us to keep dispassionate views of the opportunities at hand, even after spending weeks on an investment proposal. Our investment process is built upon this philosophy across all our portfolios, from tradable strategies to private credit. We conduct pre-mortem ahead of a transaction, and post-mortem after investing, as a continuous process.

Responsible

We recognise the importance of Environmental, Social and Governance (ESG) considerations for our society, and we acknowledge that our investment decisions can contribute to shape a better future, without compromising on investment return. We are committed to integrating sustainability factors into our investment decision-making process and continue to fine-tune bespoke integration approach mirroring the specificities of each investment portfolio.