Northill Capital launches Goldbridge Capital Partners
Northill Capital has launched Goldbridge Capital Partners, a new European credit asset management company with up to $100m equity and seed capital immediately available.
The firm was established by a team of experienced investors led by Gina Germano (pictured) and Dipankar Shewaram with the financial backing of Northill Capital.
The Goldbridge team has a strong track record and huge depth of experience of the European distressed, high yield and global credit markets, Northill said in a statement. It includes Thomas Naess, Samantha Wessels, Nick Thomson and David Levenson.
The company said it believes the current credit market crisis combined with the need for European banks to de-leverage will lead to a significant number of new high yield and distressed investing possibilities as businesses restructure. The company will seek to profit from the opportunity presented by the refinancing glut. The under-representation of institutional investors in the European sub-investment grade credit market compared to the US, combined with the ongoing regulatory and economic shifts is creating an unprecedented opportunity, the company said.
Germano has almost 20 years of relevant investment experience at BlueBay AM, Lazard and Morgan Stanley. Shewaram has more than 14 years’ experience at BlueBay AM and Western AM where he managed or advised more than $22bln in assets.
Additional members of the multinational team include Samantha Wessels, David Levenson, Thomas Naess and Nick Thomson. The institutional distribution team is led by Fahim Imam-Sadeque and Damian Nixon, both formerly with BlueBay Asset Management.
Goldbridge’s board of directors will be chaired by non-executive director, Frank Dangeard, former chairman and CEO of Thomson and deputy CEO of France Telecom
Northill partners, Jon Little and Jeremy Bassil will sit on Goldbridge’s board of directors. Little is a former vice chairman, BNY Mellon Asset Management. Bassil was at the Bank of New York Mellon Corporation as associate general counsel prior to joining Northill.
Germano, head of the executive committee will be supported by Scott Sanderson, former CFO of West LB Mellon AM, as chief financial officer responsible globally for finance, audit and management accounting; and Amrit Midha, former head of legal and compliance at Western Asset Management Co. as chief compliance officer responsible for legal, compliance and risk functions globally. The three form the firm’s executive committee.
Germano, founding partner, said the company will be able to take advantage of a protracted period of inefficiency in European markets.
“The timing of our launch corresponds with the growing requirement for alternative sources of capital. We believe that the likelihood of a second economic downturn, the fast approaching wall of refinancing against an environment of undercapitalised banks and the enormous capacity for European institutional ownership of sub-investment grade debt offer a rare opportunity for investors. We have assembled the key pillars – teams, capital, specialist products and infrastructure to exploit this opportunity in an impactful way,” she said.
Goldbridge’s ownership is split equally between its founding partners and Northill.