Descartes Alternative Credit UCITS Fund
The Descartes Alternative Credit UCITS Fund is a long-only, total return strategy, offering access to senior secured corporate loans through investments in European Collateralised Loan Obligations (“CLOs”).
The strategy seeks to generate high current income (currently 4%-5%) plus the potential for incremental return through capital appreciation.
The Fund primarily invests in European rated CLO securities. CLOs are floating rate instruments, which will benefit from rising rates, with a large carry and strong capital resilience.
The Fund’s diversified portfolio is actively managed by Cartesia, using a combination of fundamental security analysis and dynamic allocation across rating categories.
Cartesia is a Paris based regulated investment manager, set up in 2009 by seasoned partners with an average experience of 25 years in European structured credit products, especially in securitised assets such as CLOs.
Descartes Alternative Credit UCITS Fund
Jérôme has more than 20 years of experience in structuring, trading and risk-management with Morgan Stanley in London as a Managing Director and Head of the European Structured Credit Group, Citi Capital Advisors then at Bank of America-Merrill Lynch. He then developed a significant expertise in the private debt and peer-to-peer lending, before joining Cartesia in 2016. Jérôme graduated from École Polytechnique and École Nationale des Ponts et Chaussées in Paris.
With 30 years of experience in Finance, Tanguy has initially spent 17 years in Investment Banking (Credit Agricole, Merrill Lynch, Lehman Brothers) prior to set up in London in 2003 the investment manager Ocean Capital, specialised in the securitisation markets and structured finance. He then created Cartesia in 2009 in Paris. Tanguy holds a diploma from ESCP Europe.
Pierre brings 28 years experience in debt and credit markets (Merrill Lynch) and the alternative fund management industry (Darius Capital-Natixis Group).
He joined Cartesia in November 2022 as Chief Risk Officer.
Pierre holds a 1st year PhD in Applied Mathematics from Paris Dauphine University and a Master in Statistics from ENSAE
Pierre has spent 30 years in the Capital Markets in London, with a strong focus on the credit markets, working for Paribas Capital Markets, JP Morgan, Morgan Stanley – as Head of the French office for Global Markets – then for Société Générale-CIB as European Head of the Financial Institutions Group. He joined Cartesia in January 2017. Pierre graduated from HEC Paris and the Political Sciences Institute in Paris.
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Descartes Alternative Credit UCITS Fund
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