Natixis, the corporate and investment banking arm of France-based Groupe BPCE, and Moelis Asset Management have formed an investment management joint venture, Chamonix Partners Capital Management.
The JV will be headed by a board of managers comprising of three representatives from each company.
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Initially, the new venture will manage Vallee Blanche Fund Alpha, a $1.3 billion fund which will purchase a portfolio of US dollar and Euro-denominated structured product assets from Natixis’ GAPC.
The funds’ limited partners will be 100% external to Moelis and Natixis.
In addition to this initial portfolio, Chamonix will seek to raise and manage subsequent funds that will purchase additional assets and enter into financing transactions, Natixis said in a statement.
Chamonix’s investment committee will manage a $1.3 billion fund, Vallee Blanche Fund Alpha, that purchases portfolio of US dollar and Euro-denominated structured product assets from Natixis’ GAPC.
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By GlobalDataKen Moelis, chairman of Moelis Asset Management, and Laurent Mignon, CEO of Natixis said: "The launch of Chamonix Partners Capital Management LLC provides an opportunity for Natixis and Moelis to capitalize on their relationship and partner to deliver on their strengths of structured products asset expertise and deep client relationships."
