Investcorp, a leading global provider of alternative investment solutions, and Washington Corner Capital Management, a distressed and credit-based investment platform founded by Ed Banks, today announced a strategic partnership.
The partnership will provide Investcorp clients with exclusive access to the increasingly attractive distressed and credit markets through a well known and experienced hedge fund manager. Washington Corner Capital will benefit from a significant capital infusion as well as Investcorp’s well developed infrastructure which provides institutional quality oversight.
Investcorp designed this platform to provide Investcorp clients with access to emerging managers with experienced investment teams. Investcorp provides these funds with capital, access to its strong infrastructure, marketing and client relationships.
Prior to launching Washington Corner Capital, Ed Banks spent 18 years with WR Huff where he held a variety of titles including Senior Portfolio Manager of WR Huff’s high yield accounts and Chief Investment Officer of the Huff Alternative Fund. During his tenure at WR Huff, Mr. Banks participated in the growth of the firm from a small investment boutique into a leading multi-product asset management company. He is joined by Matt Swope and Michael Fisher, also formerly of WR Huff.
“Today’s partnership provides Investcorp clients with access to Washington Corner Capital’s impressive expertise in the distressed markets, an increasingly attractive sector, under the leadership of Ed Banks,” said Deepak Gurnani, Investcorp managing director and co-head of asset management.
Ed Banks, Managing Partner of Washington Corner Capital Management, said of the pairing, “We greatly appreciate the opportunity to establish a long-term relationship with Investcorp. Beyond providing Washington Corner Capital with an important source of capital, Investcorp brings its strong infrastructure and robust risk analysis capabilities. We look forward to a successful partnership.”
Ibrahim Gharghour, managing director and co-head of asset management added, “Ed brings valuable experience in successfully investing in the distressed markets and finding ways to capitalize on market dislocations. We are also particularly excited because today’s partnership marks the fifth such partnership in Investcorp’s Single Manager Platform.”
About Washington Corner Capital Management
Washington Corner Capital Management, LLC, is an investment management firm founded in 2007 by Ed Banks, Matt Swope and Michael Fisher and is located in Florham Park, NJ. Washington Corner employs a variety of credit –based strategies to achieve superior risk-adjusted returns across the credit cycle. Prominent strategies included distressed debt, special situation and relative value investing.
About Investcorp
Through its Single Manager Platform, Investcorp provides its global institutional client base with access to emerging hedge fund managers who undergo Investcorp’s institutional quality due diligence, ongoing risk monitoring and operational support. Hank Murphy is the head of development for the Single Manager Platform.
Investcorp’s hedge funds team of more than 60 professionals oversees approximately $6.0 billion in assets under management, of which approximately $2.0 billion is proprietary capital. The firm has a 10-year-long track record of investing in hedge funds.
Investcorp is a leading provider and manager of alternative investment products. It has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP). The firm has five lines of business: private equity, real estate, hedge funds, venture capital and Gulf growth capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography, and currently has over $13 billion in invested assets under management. Additional information on Investcorp can be found at www.investcorp.com, or through the contacts below.
