Sound Point hires Ninety One trio for European secured lending

Sound Point Capital Management has hired a three-person investment team from Ninety One to run European secured lending, Alternative Credit Investor reported on 22 October. The move is part of a partnership between the two managers.

Chris Rust and Lei Lei join as portfolio managers and co-heads of European secured lending. Lachlan Viney joins as a director and senior analyst. All three are based in London and report to Russell Holliday, Ninety One's head of Europe, according to the report.

The mandate is directly originated, asset-backed lending to European borrowers outside the traditional sponsor channel. That adds asset-backed lending to Sound Point's European private credit offering, building on the firm's US capabilities across capital solutions, direct lending and specialty finance.

The partnership is also intended to support completion of the Ninety One European Credit Opportunities Fund 1, according to the report, which does not give the fund's size. Ninety One closed a $404m Africa credit fund in August, this publication reported.

"Chris and Lei have spent their careers underwriting complex European credit through multiple cycles, and they bring a rare combination of deep origination relationships and structuring discipline," Holliday said. He called European asset-backed lending outside the sponsor channel "one of the most attractive and difficult to access parts of the market today, and a natural complement to our existing capabilities."

Sound Point manages more than $44bn (£32.9bn) across liquid and illiquid credit, including funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate.