Bahrain-based investment company Investcorp is seeking exposure to distressed debt in Europe through a tie-up with Eyck Capital Management, a newly established investment manager founded by former hedge fund principal Khing Oei.
Investcorp will provide Eyck with capital as the new London-based firm invests in opportunities related to highly leveraged companies in Europe, using instruments including bonds, credit default swaps and equities, Investcorp said on Sunday.
It did not reveal how much money it was putting up, but noted in the past it had provided seed and acceleration capital to asset managers in amounts ranging from $50 million to $100 million.
Investcorp has over $11 billion in client and proprietary assets under management. Eyck Capital was founded last year. Previously, Oei worked at Halcyon, a multi-strategy hedge fund.