After a Wild Week, H20's Co-Founder Vows Fund Will Emerge Stronger

Bruno Crastes, the fund manager at the center of this week’s H20 Asset Management selloff, appeared on screen Friday to calm his investors’ frayed nerves. The recent outflows and turmoil, he said, “will only make us stronger.” His heretofore lower-profile co-founder, Vincent Chailley, appeared as well, vowing that liquidity for private debt will return.

The two Frenchmen, whose London-based fund is backed by Natixis SA, spent the past week seeking to contain the turmoil set off by Morningstar’s decision to suspend the rating on one of their funds and reporting about illiquid debt tied to German entrepreneur Lars Windhorst’s companies. They’ll now be seeking to further restore investor confidence and a return to more normal business conditions. Since June 19, Natixis’s stock is down 10%. Here’s a look at how the drama of the past week unfolded and some of the key developments.