News

Investcorp and Kingsguard Advisors form strategic partnership

4 Oct 2012

Investcorp, the international alternative asset manager, and Kingsguard Advisors, LP, a New York-based investment firm founded by former Goldman Sachs senior executives, Rishi Chadda and Cyrus Pouraghabagher, today announced a strategic partnership that will offer Kingsguard support and stable growth capital while providing Investcorp and its investors access to a global macro-driven fixed income strategy.

Kingsguard will become the latest investment advisor to join Investcorp’s Single Manager Platform, which now has six single managers with a total of over $1.8 billion in assets under management. Investcorp will provide Kingsguard with an initial investment as well as risk oversight, marketing, and operational support. Investcorp historically provides initial seed capital ranging from $50 million to $100 million in funds to be managed by the single managers.

Kingsguard will focus on capitalizing on market opportunities across the entire fixed income spectrum including the rates, volatility, credit, and mortgage markets. The Kingsguard team has deep expertise in macro analysis, fixed income trading, and fundamental and technical research.

“We are delighted to partner with Rishi and Cyrus, and to have their level of specialization and expertise in global macro fixed income strategies available on the Single Manager Platform,” said Deepak Gurnani, Investcorp’s head of hedge funds and Chief Investment Officer. “We’ve held the view for a long time that emerging managers have the ability to play an important role in the management of an investor’s portfolio. Our partnership with Kingsguard provides Investcorp and our investors with exposure to an emerging manager with insight into opportunities across a full range of fixed income products.”

Messrs. Chadda and Pouraghabagher have combined 28 years of experience at Goldman Sachs, where they focused extensively as principal risk takers across liquid fixed income products, mortgages and structured credit markets.

“We’re excited about the opportunity to partner with Investcorp, which has a strong record of success seeding early stage investment funds such as ourselves,” said Mr. Chadda.

Mr. Pouraghabagher added: “Investcorp provides the investment and operational risk management support necessary to grow our firm so that we can focus on delivering alpha to our investors.”

Most recently, Mr. Chadda managed a multibillion dollar proprietary portfolio as head of Goldman Sachs’ Liquid Products Group, and focused primarily on fixed income interest rate products including governments, futures, derivatives and mortgage securities.

Mr. Pouraghabagher led Goldman Sachs’ Mortgage Derivatives and Non-Agency RMBS trading desks. He was instrumental in navigating the firm through the 2007 / 2008 credit crises as lead manager of the firm’s multi-billion dollar subordinate credit risk across residential mortgages.

“Kingsguard’s macro approach to fixed income investing is very well positioned to succeed in the current market environment,” said Nick Vamvakas, head of development for Investcorp’s single manager platform. “Rishi and Cyrus have a tremendous amount of relevant experience that will serve them and our investors well.”

Kingsguard will officially launch operations on November 1st. The investment team is led by Messrs. Chadda and Pouraghabagher who began their careers together as analysts in the Mortgage Department at Goldman Sachs and worked together in various positions over the past 15 years.