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Natixis and Moelis Asset Management Form Investment Management Joint Venture
Natixis and Moelis Asset Management (Moelis) announced today that they have formed a joint venture called Chamonix Partners Capital Management LLC (Chamonix), an investment manager.
Chamonix will initially manage Vallee Blanche Fund Alpha, LP, a $1.3 billion fund which will purchase a portfolio of US dollar and Euro-denominated structured product assets from Natixis’ GAPC (Gestion Active des Portefeuilles Cantonnés). The funds’ limited partners will be 100 per cent external to Moelis and Natixis. Natixis reports that this will be a true sale by GAPC, a significant step to close it.
In addition to this initial portfolio, Chamonix will seek to raise and manage subsequent funds that will purchase additional assets and enter into financing transactions.
Chamonix will be overseen by a Board of Managers consisting of three representatives appointed by Natixis and three representatives appointed by Moelis.
Chamonix will manage Vallee Blanche Fund Alpha, LP through an investment committee whose members have extensive experience with the asset classes represented and complementary functional backgrounds. Martin St. Pierre, who chairs the investment committee, was most recently Global CEO of GAPC and before that, was Global Head of Credit Trading at Natixis. He has 20 years of capital markets experience.
“The launch of Chamonix Partners Capital Management LLC provides an opportunity for Natixis and Moelis to capitalize on their relationship and partner to deliver on their strengths of structured products asset expertise and deep client relationships,” said Ken Moelis, Chairman of Moelis Asset Management, and Laurent Mignon, CEO of Natixis.
Moelis Asset Management (MAM) is an alternative asset management firm with leading capabilities in private equity and credit. The Firm has been built on the premise of backing high caliber investment professionals in products it believes can provide the most attractive risk adjusted returns for investors. MAM was established in 2007 through Moelis Capital Partners, a private equity firm focused on buyout and growth equity investments in middle market companies. The Firm has since added Gracie Credit, a multi-strategy credit manager, Freeport Financial, a direct lending platform, Steele Creek Investment Management, a manager of collateralized loan obligations and other broadly syndicated loan products, and Chamonix Partners Capital Management LLC, a structured products investment manager. MAM currently has assets under management of about $2.8 billion. Further information is available at: www.moelisassetmanagement.com
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.3 billion, a Basel 3 CET1 Ratio(1) of 11.4% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in
Figures as at 31 March 2020.
