Oct. 3 (Bloomberg) -- Northill Capital LLP is providing financial backing to Goldbridge Capital Partners, a new European credit fund and distressed debt investor.
Goldbridge will buy the debt of companies trading at distressed levels and high-yield bonds. It has $100 million of equity and seed capital, according to a statement from Northill, a London-based investment firm founded by former BNY Mellon Asset Management Vice Chairman Jon Little.
“The current credit market crisis combined with the need for European banks to delever will lead to a significant number of new high-yield and distressed investing possibilities as businesses restructure,” Northill said in the statement. “Goldbridge will seek to profit from the opportunity presented by the refinancing glut.”
Gina Germano, formerly a portfolio manager at BlueBay Asset Management Ltd. and Dipankar Shewaram, the head of non-U.S. credit at Western Asset Management, founded Goldbridge.
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