Creditflux Subscription required SCIO Capital’s Partners Fund I is in its planned final realization of asset values, five years after the launch of the closed-ended fund. The fund, which invested in core European private structured credit on behalf of institutional and other professional investors, returned 11.5% pa net of fees over its lifetime. A majority of SCIO Partners Fund I investors have chosen to transfer their realization proceeds to the SCIO Opportunity Fund I. © Creditflux
KPMG: SFIG Vegas – the full round-up CLO equity investors at SFIG Vegas were in an upbeat mood in a panel discussion, but with rate rises and political risks looming they said this was no time to get comfortable Greg Branch, CIO at SCIO Capital, pointed out that interest rate shocks have historically been a problem for low-rated companies in the US, but in European credit markets, a bigger concern was political risk. ‘Europe is more constructive in terms of baseline forward default rates compared to the US, but you have a tail risk in Europe that you don’t have in the US. A populist government coming to power in France or Italy would be a much larger shock’.
ft.com Subscription required Greg Branch, an investor at SCIO Capital, an asset manager, insists there are significant differences from the first effort in the 1990s. ‘You need to stress a lot of different variables — the nice thing about it is there are benefits compared to earlier deals,’ he says.
bloomberg.com ‘I’m pleased banks seem more willing as of late to support capital-relief trades,’ said Greg Branch, chief investment officer of SCIO Capital LLP, which buys the deals. ‘It seems investors can’t get enough of this risk, but they’d be wise to be careful.’