East Lodge Capital Partners, a UK-based hedge fund, is planning to secure funds of $250m in assets under management (AUM) over the first three months of trading.
The East Lodge Capital credit opportunities fund is said to have written to its investors that the firm is open to outside money, according to The New York Times.
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Alistair Lumsden, founder of East Lodge Capital, had earlier managed a $3.2bn fund focused on asset-backed securities at the British hedge fund CQS, before departing the firm in 2012.
East Lodge Capital’s investment team includes Lumsden’s partner at CQS Steve Swallow; Richard Skeet, a former senior European asset-backed securities trader at Citigroup; and Robert Riley, a former portfolio manager at HSBC Global Asset Management.
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